The issuer of the largest stablecoin, Tether (USDT), has announced the start of testing a new product, Notabene, that ensures compliance with international money laundering requirements.
New real-time crypto transaction tracking technology captures user data and allows regulators to better track cash flows.
Following successful testing, Tether intends to fully integrate the product to comply with international regulatory rules.
FATF global standards clearly set out the requirements for storing and transmitting information of virtual asset users and VASPs, as for traditional financial flows. The agency demands the application of global rules by participants in the crypto industry to prevent the misuse of VASP in criminal activities.
In June, Binance integratedCipherTrace Traveler - a solution for compliance with FATF requirements.
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