{"id":358113,"date":"2021-10-26T14:44:49","date_gmt":"2021-10-26T11:44:49","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/tether-trials-notabenes-new-travel-rule-technology-to-combat-financial-crimes\/"},"modified":"2021-10-26T14:44:49","modified_gmt":"2021-10-26T11:44:49","slug":"tether-trials-notabenes-new-travel-rule-technology-to-combat-financial-crimes","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/tether-trials-notabenes-new-travel-rule-technology-to-combat-financial-crimes\/","title":{"rendered":"# Tether trials Notabene\u2019s new travel rule technology to combat financial crimes"},"content":{"rendered":"<p>&#8220;<strong># Tether trials Notabene\u2019s new <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/trip-and-travel\/\" data-internallinksmanager029f6b8e52c=\"10\" title=\"Trip &amp; Travel\" target=\"_blank\" rel=\"noopener\">travel<\/a> rule <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> to combat financial crimes <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMTAvYzU0YzI3ZDgtZWQwNi00YTU5LThmYjktZWRhYzNhMmMwZjUzLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-128018ef>Tether Operations Limited, the firm operating the Tether (USDT)-centric platform tether.to, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/tether.to\/tether-trials-notabene-travel-rule-solution\/\">announced<\/a> today that it will use Notabene, an end-to-end solution for cryptocurrency Travel Rule compliance.<\/p>\n<p>Tether will begin testing Notabene&#8217;s cross-border transaction monitoring system for virtual asset service providers (VASPs) to combat financial crimes such as money laundering.<\/p>\n<p>Notabene is a new technology for monitoring cryptocurrency transactions in real-time, making the blockchain more transparent and allowing regulators to keep better track of cash flow.<\/p>\n<p>The Know Your Customer infrastructure stack at the firm is built to span jurisdictions with little or no regulation of financial services.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">In order to assist cryptocurrency exchanges, digital wallet providers, and financial institutions with the new FATF Travel Rule requirement, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Tether?src=hash&amp;ref_src=twsrc%5Etfw\">#Tether<\/a> will begin testing the Notabene platform.\u2b07\ufe0f<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/9gUpq15As6\">https:\/\/t.co\/9gUpq15As6<\/a><\/p>\n<p>\u2014 Tether (@Tether_to) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Tether_to\/status\/1452947576513302528?ref_src=twsrc%5Etfw\">October 26, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>Notabene claims to offer a low-risk environment to test sophisticated crypto use cases. Tether will use Notabene&#8217;s technology to determine if it can securely transmit identifying data for clients in other VASPs. In particular, as it pertains to transactions conducted by VASPs, Notabene&#8217;s solution will help Tether protect its consumers.\u00a0<\/p>\n<p>The Financial Action Task Force (FATF), a worldwide group that sets Anti-Money Laundering standards, has determined that VASPS should adhere to the same rules as regulated financial institutions. The &#8220;<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fatf-gafi.org\/media\/fatf\/documents\/recommendations\/pdfs\/FATF%2520Recommendations%25202012.pdf\">Travel Rule<\/a>&#8221; advises VASPs to exchange specific client information between counterparties for transactions worth more than a certain amount.<\/p>\n<p>These procedures are meant to assist nations and service providers in preventing money laundering, terrorist financing, and complying with sanctions laws. Commenting on the new development, Tether&#8217;s CCO Leonardo Real stressed the importance of working with other VASPs, stating:<\/p>\n<blockquote><p>\u201cAs pioneers of blockchain technology and leaders in transparency, we are dedicated to not only keeping up with new rules but helping shape them. Because the Travel Rule traditionally <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>lies to financial institutions, we see this as an opportune moment to foster cooperation across traditional and digital channels in order to create better services for customers globally. We are proud to lead the charge.\u201d<\/p><\/blockquote>\n<p>According to a recent report from Cointelegraph, the SEC will be in charge of U.S. stablecoin regulation and enforcement. In 2021, the stablecoin market has seen tremendous development, and Tether&#8217;s market capitalization has soared this year, increasing by 229% since the start of the year to $69.6 billion.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/tether-trials-notabene-s-new-travel-rule-technology-to-combat-financial-crimes\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Tether trials Notabene\u2019s new travel rule technology to combat financial crimes &#8221; Tether Operations Limited, the firm operating the Tether (USDT)-centric platform tether.to, announced today that it will use Notabene, an end-to-end solution for cryptocurrency Travel Rule compliance. Tether will begin testing Notabene&#8217;s cross-border transaction monitoring system for virtual asset service providers (VASPs) to&#8230;<\/p>\n","protected":false},"author":1,"featured_media":358114,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMTAvYzU0YzI3ZDgtZWQwNi00YTU5LThmYjktZWRhYzNhMmMwZjUzLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74894,79096,74889,55229,70934,36041],"class_list":["post-358113","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-blockchain","tag-fatf","tag-payments","tag-law","tag-regulation","tag-tether"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/358113","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=358113"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/358113\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/358114"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=358113"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=358113"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=358113"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}