October 21, 2020 U.S.-based VASPs announce data sharing solution.

A consortium of 25 U.S.-based virtual asset service providers, called the U.S. Travel Rule Working Group (USTRWG), has released a whitepaper detailing the group’s proposed data sharing solution, which will reportedly enable the firms to comply with the FATF’s ‘travel rule.’ The rule requires VASPs to share participant data, namely the names and account numbers of counterparties, when interacting with each other. The whitepaper was first announced by former Coinbase CCO Jeff Horowitz.