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Sunday, March 23

Month: November 2022

Nov222022 by Laila EliasNo Comments
Protocol Interoperability is Still Very Young Today

Protocol Interoperability is Still Very Young Today

Business
The implementation of interoperability has been slow, despite a few press releases and announcements. To ensure that Travel Rule solutions are interoperable, FATF has recently urged cooperation between regulators and private sector organizations. Interoperability between Travel Rule messaging protocols is not yet universal, but FATF does not consider a lack of interoperability a reason to not comply. While there are working solutions in production, FATF urges countries to implement the Travel Rule as well as robust control measures to interact with VASPs in jurisdictions with no Travel Rule or no working solutions in place. It is also possible to maintain the continuity of operations if Travel Rule solutions are implemented early when local regulatory implementation deadlines are imposed....
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