{"id":27563,"date":"2020-08-21T16:10:20","date_gmt":"2020-08-21T13:10:20","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=27563"},"modified":"2025-08-26T21:43:16","modified_gmt":"2025-08-26T18:43:16","slug":"switzerland-conducts-first-automated-bitcoin-transaction-compliant-with-fatf-rules","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/switzerland-conducts-first-automated-bitcoin-transaction-compliant-with-fatf-rules\/","title":{"rendered":"Switzerland Conducts First Automated Bitcoin Transaction Compliant with FATF Rules"},"content":{"rendered":"<p>Swiss-based Crypto Finance AG and Mt Pelerin conducted the first automated <a href=\"https:\/\/blockstream.info\/tx\/4ecd1f6f82c691dedd54572fd02b210f539e5652d1cdda4b5e8990c0cca104fc\" target=\"_blank\" rel=\"noopener noreferrer\">Bitcoin transaction<\/a> in compliance with FATF anti-money-laundering standards and the Swiss regulator FINMA. The software for the operation was supplied by solutions provider 21 Analytics.<!--more--><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">First successful automated <a href=\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#bitcoin<\/a> transaction compliant with the <a href=\"https:\/\/twitter.com\/hashtag\/AML?src=hash&#038;ref_src=twsrc%5Etfw\">#AML<\/a> ordinance of <a href=\"https:\/\/twitter.com\/hashtag\/FINMA?src=hash&#038;ref_src=twsrc%5Etfw\">#FINMA<\/a> between Crypto Finance AG and Mt Pelerin. Great thanks to our Partner 21 Analytics. Read the full story: <a href=\"https:\/\/t.co\/Ue6qfozdU6\">https:\/\/t.co\/Ue6qfozdU6<\/a><a href=\"https:\/\/twitter.com\/hashtag\/cryptocompliance?src=hash&#038;ref_src=twsrc%5Etfw\">#cryptocompliance<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/digitalasset?src=hash&#038;ref_src=twsrc%5Etfw\">#digitalasset<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/blockchain?src=hash&#038;ref_src=twsrc%5Etfw\">#blockchain<\/a><\/p>\n<p>\u2014 Crypto Finance (@CryptoFinanceAG) <a href=\"https:\/\/twitter.com\/CryptoFinanceAG\/status\/1296712259377430529?ref_src=twsrc%5Etfw\">August 21, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>To execute a transaction valued at $23 in cryptocurrency, the AI-based 21 Analytics solution, FATF&#8217;s OpenVASP system, and ING Bank&#8217;s Travel Rule Protocol (TRP) were used. All required information was prepared according to the crypto-industry standard IVMS101 developed by the participants. The parties exchanged sender and recipient data, as is typical for standard bank transfers.<\/p>\n<blockquote>\n<p>\u201cThe transfer was fully automated thanks to the TRP protocol instead of creating and sending a PDF manually for each transaction, as VASPs in Switzerland had done before,\u201d said Lukas Betschart, founder and CEO of 21 Analytics.<\/p>\n<\/blockquote>\n<p>Travel Rule is a set of FATF guidelines obliging virtual asset service providers (VASPs) to follow AML and CFT procedures, in line with traditional financial firms. Data must be compiled for all transactions exceeding $1,000.<\/p>\n<p>Earlier in July, custodian-solutions provider BitGo unveiled a Travel Rule compliance solution embedded in wallet APIs.<\/p>\n<p>Subscribe to ForkLog news on <a href=\"https:\/\/www.facebook.com\/forklog\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Facebook<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Swiss-based Crypto Finance AG and Mt Pelerin conducted the first automated Bitcoin transaction in compliance with FATF anti-money-laundering standards and FINMA. The software for the operation was supplied by solutions provider 21 Analytics.<\/p>\n","protected":false},"author":1,"featured_media":27564,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1898,971,468],"class_list":["post-27563","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-crypto-finance","tag-fatf","tag-switzerland"],"aioseo_notices":[],"amp_enabled":true,"views":"22","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/27563","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=27563"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/27563\/revisions"}],"predecessor-version":[{"id":27565,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/27563\/revisions\/27565"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/27564"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=27563"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=27563"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=27563"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}