With respect to regulatory oversight, the cryptocurrency market has progressed quite a lot over the past few years. The work of the Financial Action Task Force [FATF] is a notable example, with the FATF coming up with the Travel Rule over a year ago. It recently concluded its third meeting to review the progress made regarding the implementation of new AML (anti-money laundering) guidance for digital assets. However, contrary to what institutions might expect, when it comes to implementing the FATF's travel rule, there may be risks and tradeoffs that need to be made.
