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IDnow, IOTA Foundation, and others join a compliance consortium for European AML
Feb. 14, 2024, 10:27 p.m. | Bianca Gonzalez
Biometric Update www.biometricupdate.com
The IOTA Foundation, IDnow, walt.id, SPYCE.5, and Bloom Labs are forming a consortium to make crypto asset service providers (CASPs) compliant with the European AML Regulation and the Transfer of Funds Regulation, according to an announcement.
CASPs currently must comply with the GDPR by not storing PII on blockchains or distributed ledgers. At the same time, they must comply with new KYC regulations. TFR requires that crypto transactions must include information about the sender and recipient. …
aml announcement asset biometrics news compliance crypto crypto asset cryptocurrency financial services forming foundation funds gdpr idnow kyc labs pii regulation service service providers transfer
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