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In a move to bolster regulatory compliance and combat money laundering, Gate.io, a prominent global virtual asset exchange, announced its membership in the Travel Rule Solution Provider Code (CODE) alliance on March 26th.
The Travel Rule mandates stringent verification procedures for transmission and reception information between virtual asset providers, particularly for transfers surpassing 1 million won (approximately 865,052 U.S. dollars). CODE represents a collaborative initiative involving industry giants Bithumb, Coinone, and Korbit.
A spokesperson for Gate.io emphasized the significance of adhering to the Travel Rule, stating, "Our partnership with CODE is geared towards enhancing user convenience, safeguarding personal information stability, and elevating compliance standards and transaction transparency within exchange operations."
This strategic move underscores Gate.io's commitment to upholding regulatory standards and fostering a secure environment for virtual asset transactions.
