The Financial Intelligence Centre (FIC) has issued a draft directive requiring crypto platforms in South Africa to identify the parties of a cryptocurrency transaction.

This is part of an effort to get off the Financial Action Task Force (FATF) greylist by complying with its “Travel Rule” for virtual assets like cryptocurrency.

Signed by FIC acting director Pieter Smit, the proposed directive states that South African crypto asset service providers (CASPs) must transmit a significant amount of a sender’s personal data to recipient providers.

Read more at MyBroadband…

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