{"id":487019,"date":"2022-08-23T08:34:26","date_gmt":"2022-08-23T05:34:26","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/paypal-adds-to-list-of-crypto-heavy-hitters-on-the-trust-network\/"},"modified":"2022-08-23T08:34:26","modified_gmt":"2022-08-23T05:34:26","slug":"paypal-adds-to-list-of-crypto-heavy-hitters-on-the-trust-network","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/paypal-adds-to-list-of-crypto-heavy-hitters-on-the-trust-network\/","title":{"rendered":"# Paypal adds to list of crypto heavy hitters on the TRUST network"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a24136c693ba\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a24136c693ba\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/paypal-adds-to-list-of-crypto-heavy-hitters-on-the-trust-network\/#%E2%80%9D_Paypal_adds_to_list_of_crypto_heavy_hitters_on_the_TRUST_network_%E2%80%9C\" >&#8221; Paypal adds to list of crypto heavy hitters on the TRUST network  &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Paypal_adds_to_list_of_crypto_heavy_hitters_on_the_TRUST_network_%E2%80%9C\"><\/span>&#8221; Paypal adds to list of crypto heavy hitters on the TRUST network  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDgvNTY5ZmRkZWQtYzk5Zi00MjVlLThkYzItZTc0NTY0OWY3ZDgwLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-28d77a7a>Crypto-friendly digital payments giant Paypal has been added to the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/trip-and-travel\/\" data-internallinksmanager029f6b8e52c=\"10\" title=\"Trip &amp; Travel\" target=\"_blank\" rel=\"noopener\">Travel<\/a> Rule Universal Solution <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">Technology<\/a> (TRUST) network, joining a host of big names in crypto that have moved to comply with digital asset travel rules. <\/p>\n<p>The announcement comes two months after the payments giant rolled out infrastructure enabling users to transfer, send and receive digital assets between PayPal and other wallets and exchanges in June this year. Prior to that, users were only able to buy and sell crypto within Paypal following the firm\u2019s initial jump into the sector in October 2020. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Now you can easily use your crypto with PayPal. Bring it into PayPal and send some to friends and family\u2014all in one place. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/k24TVHoSYh\">https:\/\/t.co\/k24TVHoSYh<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/v0CeV9dNXa\">pic.twitter.com\/v0CeV9dNXa<\/a><\/p>\n<p>\u2014 PayPal (@PayPal) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/PayPal\/status\/1559193394131488768?ref_src=twsrc%5Etfw\">August 15, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\nTRUST was launched by a group of 18 U.S. virtual asset service providers (VASPs) in February, with heavy hitters such as Coinbase, Paxos, Circle, Kraken, and Robinhood participating from the get-go. The number has since expanded to 38 now that Paypal has joined the ranks. <\/p>\n<p>\u201cThe addition of PayPal marks another milestone in TRUST\u2019s journey to become the global, industry-standard solution for Travel Rule compliance,\u201d Coinbase noted in an Aug. 23 announcement. <\/p>\n<p>Under the Bank Secrecy Act (BSA) rule 31, more commonly known as the &#8220;Travel rule\u201d, U.S. VASPs are legally required to pass on specific information relating to customer fund transfers from one financial institution to another. The threshold for identifying fund transfers, and the people behind them, start at $1,000. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Big day for the Travel Rule Universal Solution Technology (TRUST) network as we welcome digital payment leader <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/PayPal?ref_src=twsrc%5Etfw\">@PayPal<\/a>. Our industry-driven solution to balancing Travel Rule compliance with protecting customer privacy &amp; security is now 38 members strong. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/OybFRjbmwU\">https:\/\/t.co\/OybFRjbmwU<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/eKmAYHBoLQ\">pic.twitter.com\/eKmAYHBoLQ<\/a><\/p>\n<p>\u2014 Circle (@circlepay) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/circlepay\/status\/1561790308647682060?ref_src=twsrc%5Etfw\">August 22, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>As such, the group of U.S. VASPs launched TRUST to streamline reporting and make the sharing of information between them easier and more transparent. TRUST utilizes a solution which is composed of two main features; a centralized bulletin board to identify each VASP party on both ends of a transaction and encrypted point to point (P2P) channel to securely exchange data. <\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Self-regulatory orgs for crypto keep ecosystem afloat pending clear regulations<\/em><\/strong><\/p>\n<p>The group was formed in response to a recommendation from the Financial Action Task Force (FATF) in June 2021 for VASPs across the globe to adopt specific principles in order to maintain compliance with anti-money laundering (AML) and anti-terrorist financing (ATF) policies. <\/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\/paypal-adds-to-list-of-crypto-heavy-hitters-on-the-trust-network\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Paypal adds to list of crypto heavy hitters on the TRUST network &#8220; Crypto-friendly digital payments giant Paypal has been added to the Travel Rule Universal Solution Technology (TRUST) network, joining a host of big names in crypto that have moved to comply with digital asset travel rules. The announcement comes two months after&#8230;<\/p>\n","protected":false},"author":1,"featured_media":487020,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDgvNTY5ZmRkZWQtYzk5Zi00MjVlLThkYzItZTc0NTY0OWY3ZDgwLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74859,74956,79096,76574,117],"class_list":["post-487019","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-aml","tag-coinbase","tag-fatf","tag-paypal","tag-business"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/487019","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=487019"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/487019\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/487020"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=487019"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=487019"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=487019"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}