Can Crypto Firms Catch Up on Compliance Gaps as Regulations Evolve?
As crypto adoption accelerates, regulators are ramping up enforcement of the Financial Action Task Force’s (FATF) Travel Rule compliance in APAC.
Governments remain cautious, driven by concerns over financial stability and the absence of centralised control. As a result, many have passed legislation to implement the Travel Rule for virtual asset service providers (VASPs).
Yet according to Sumsub’s guide on enabling secure crypto payments, 75% of jurisdictions in the region are still either non-compliant or only partially compliant, leaving loopholes that fraudsters are already exploiting.
