UK crypto companies to adjust to FATF Journey Rule starting in September

Crypto asset companies in the UK shall be required to adjust to Monetary Motion Job Drive (FATF) Anti-Cash Laundering and Counter-Terrorist Financing guidelines, identified collectively because the Journey Rule, starting Sept. 1, a press release from the Monetary Conduct Authority (FCA) reiterated Aug. 17. It will carry the U.Ok. into conformity with FATF requirements set in 2019.

The Journey Rule requires digital asset service suppliers (VASPs) to share buyer info when making transfers to assist establish suspicious transactions. The U.Ok. handed laws to start imposing the Journey Rule in July 2022.

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