February 27, 2020 Binance to partner with Shyft Network to comply with FATF identification “travel rules.”

Binance, a major cryptocurrency exchange, announced that it will use Shyft Network’s infrastructure, which functions like a SWIFT interbank messaging system, to comply with the Financial Action Task Force’s (FAFT’s) requirement that personally identifiable information travel with a transaction. FAFT, who supports anti-money laundering efforts globally, will review projects’ progress towards meeting the travel rule in June.