The new FATF Travel Rule, requiring Virtual Asset Service Providers (VASPs) to collect and share originator and beneficiary data for transactions above $1,000, will significantly impact over-the-counter (OTC) trading desks. OTC desks, often facilitating large crypto trades, must now implement robust compliance systems to verify identities and exchange data with counterparties, increasing operational costs and complexity. This may reduce anonymity, potentially deterring high-net-worth clients valuing privacy. Smaller desks might struggle with technological upgrades, risking market exclusion. While aimed at curbing money laundering, the rule could slow transaction speeds and raise fees, affecting competitiveness. Global enforcement inconsistencies may also create compliance gaps, challenging OTC desks in less-regulated jurisdictions. Overall, adaptation will be key to maintaining efficiency and client trust.
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I just collected "Farcaster: Lion"
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The vibrant autumn leaves, golden and red, cover the ground in a carpet of color.
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