FATF which is known as âThe Financial Action Task Forceâ is a foundation of the G7 organization that was formed to fight the evils like money laundering. It is a government recognized force that works as a watchdog of the government and keeps a check on illegal activities like counter-terrorism-financing and money laundering.
As there was a certain assumption concerning cryptocurrency as well that this platform is being used for evil practices like laundering, financing terrorism, drugs buying etc. that is when the countries around the world included cryptocurrencies in virtual assets to keep a check on these activities. FATF deals through these VASPs to look after these practices and hinder through the rules and regulations that they have laid while someone deals in cryptocurrencies as well. If you want to invest in bitcoin then read the
CoolBitX Launches Sygna Gate, A Browser Gateway For The Comprehensive Compliance Of Crypto Licensing Requirements Simplified Front-End Solution Cuts Integration Required For VASPs To Meet FATF Travel Rule, Sanction Screening, Transaction Monitoring, And More
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DigiFinex joins CoolBitX s Sygna Alliance to Comply With FATF Travel Rule and Singapore Crypto Regulations – Bankless Times
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Singapore Cryptocurrency Industry Association ACCESS Completes Independent Assessment of CoolBitX s Sygna Bridge – Bankless Times
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Sygna Bridge, ComplyAdvantage to Facilitate Sanction List Identification While Meeting FATF Travel Rule Requirements
CoolBitX, the international blockchain security company, and creators of Sygna Bridge, this week announced its partnership with ComplyAdvantage, a global data and technology company transforming financial crime detection, to offer an all-in-one solution that aims to simultaneously meet FATF’s sanctions guidance and Travel Rule recommendations for the virtual asset industry.
The joint AML solution bundles counterparty information sharing with sanction screening in real time including politically exposed person (PEP) screening, and adverse media listing and will be integrated with Sygna Gate, a new compliance solution that includes additional transaction monitoring and blockchain analytics solutions from leading industry solution providers. Sygna Gate will be available from June 26th, 2021.