Many countries have started enforcing the implementation of the Travel Rule with the majority of South Korean trading platforms squeezed out of business for failure to implement required monitoring checks.
The Ministry of Financial Services of the Cayman Islands defined Virtual Asset Service Providers to include cryptocurrency service providers which include but not limited to cryptocurrency exchanges, wallet service providers amongst others.
The Travel Rule Protocol working group’s solution uses two simple RESTful APIs designed for querying address ownership and sending required originator and beneficiary information about digital asset transfers.
According to OKEx Korea, ‘dark’ Monero, Dash, Zcash, Horizen and Super Bitcoin will be delisted on October 10. The deadline for final withdrawals for the coins is set for December 10.