FATF’s Crypto Travel Rule vs AML/KYC: How They Differ and Work Together

The FATF’s R.16 “Crypto Travel Rule” aims to identify crypto transmitters. How does it differ from current AML/KYC efforts and is KYC still needed?

What is the Financial Action Task Force (FATF)?

The Financial Action Task Force (FATF) is the world’s AML/CFT watchdog against money laundering and terrorism funding. In 2019 it imposed fundamental and permanent changes on the crypto industry. This guide investigates the FATF’s origins and operations, as well as its global network of member countries, FATF-style regional bodies and observer organizations.