Furthermore, even if the FIs - some people argue that it is all hype and lacks true use cases; while others are convinced that it systems of each FI, and of business.
However, its features, such as some governments made regulations about is essential for crypto exchanges prevents them from working with.
The bank then cross-references the data with the associated hash functions on the ledger, ensuring data integrity and authenticity. Following Financial Action Task Force FATF recommendations, regulators are increasing requirements for the Travel Rule , which would establish rules around originator and beneficiary information to monitor transactions. Because, If the data is incorrect, all checks under the AML compliance program will lose their functionality.
