According to a post on the Binance blog, Binance announced that it has joined the Global Travel Rule (GTR) alliance. The Alliance is a global community of virtual asset service providers leveraging the same solution to comply with an important international anti-money laundering rule.
Binance said that joining the GTR Alliance will ensure a higher level of data security and regulatory compliance. This strategic move aims to align Binance with Financial Action Task Force (FATF) Recommendation 16, a reporting requirement also known as the “Travel Rule” that has been implemented in several countries and will to become a common standard within the next few years.
