Quote from: teddyelwyn on September 23, 2019, 11:56:21 PM

Did you see Ciphertrace's response to the FATF travel rule? I wonder how that could play a part with privacy coins

I read the response. It looks good on paper but this is going to take a lot of resources. It's not that I am doubting Ciphertrace "influence" but until their plan comes fruition, I don't see FATF making amendments.

For readers reference:

Quote from: https://ciphertrace.com/fatf-crypto-travel-rule/

One solution is using blockchain analytics tools to aid in the legitimate investigation of criminals and terrorists using cryptocurrencies to hide their activities. However, given the new FATF rule and legitimate concerns for privacy, totally new technologies are required to maintain compliance with Anti-Money Laundering (AML) and Counter Terrorist Financing (CTF) regulations.

To that end, we believe cryptographically controlled privacy mechanisms can make it possible to have both anonymity and responsible disclosure of the source of funds for legitimate purposes such as criminal or terrorist investigations and AML compliance. This is the vision that CipherTrace and its partners are working to realize a collaborative know-your-customer (KYC) and AML ecosystem in which participating exchanges can securely transfer Proof of Knowledge without disclosing personally identifying information (PII). Our roots in cybersecurity and cryptography run much deeper than any other player in the industry, and our engineers and data scientists are developing cryptographically controlled ways to make KYC and AML faster, more efficient and open, all while maintaining a very high level of privacy and only revealing identity information when compelled to do so by legal authorities. This is how we are doing our part to foster the future growth of cryptocurrencies globally.