Just before the Financial Action Task Force (FATF) published the organization’s 12-month review, a working group called the Travel Rule Protocol (TRP) released its 2.0 version of the TRP crypto application programming interface (API) in order to “simplify the end-user crypto exchange experience.” TRP is backed by big banks like Fidelity Investments, Standard Chartered, and ING Bank and 25 virtual currency service providers (VASPs).
Travel Rule-Focused Crypto Working Group Releases Protocol Version 2.0
The Travel Rule Protocol (TRP) is an organization that aims to enhance crypto financial transaction data in order to comply with KYC/AML policy. The organization is backed by large financial institutions and crypto exchanges and custodians like Bitgo, Coinbase, Kraken, and Gemini.
The Travel Rule Protocol (TRP) was revealed last year as 25 American-based VASPs published a paper showing how the businesses aim to comply with the FATF Travel Rule. The organization also released a TRP
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