Powering trust on the blockchain and economies of trust 🤝 $SHFT 🔎 Shyft Veriscope - the only frictionless crypto Travel Rule solution
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Joined September 2017
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G20 Finance Ministers and Central Bank Governors meet today. Financial Stability Board (FSB) Chair Andrew Bailey has set their stablecoin agenda: cross-border oversight and crisis management “remain immature or are not yet developed.” 👁️🧵
3/ The FSB describes global stablecoins as pseudonymous and transferable 24/7 across borders. Oversight still stops at each border.
After the Senate failed to advance the CLARITY Act (49–50, short of 60), U.S. crypto policy shifted from Congress to agencies.
Within days 👇
• SEC: “innovation exemption” for qualifying venues to trade tokenized U.S. stocks on-chain without full exchange registration
• CFTC: no-action for passive software/wallets accessing regulated derivatives; broader crypto-markets rulemaking sent for White House review. Chair Mike Selig: the agency already has authority — “it’s go time”
• Fed: proposed reserve and capital rules for Board-supervised payment stablecoin issuers under the 2025 GENIUS Act (OCC still racing its piece toward a January deadline)
Industry voices call regulator-led guidance the more viable path for now. The trade-off is structural: agency rules and staff positions are slower to finalize, easier to challenge in court, and easier for a future Commission or administration to unwind than a statute.
CFTC Chair Selig said the agency is preparing for onchain systems, mass tokenization, 24/7 trading, and agentic finance.
An agent can send the payment. It cannot carry the obligation. Someone still has to be the originator or the beneficiary.
Travel Rule and VASP discovery do not pause because software is in the loop. If that attribution is missing, 24/7 trading just means 24/7 unreconciled risk.
The Clarity Act will not become law this year.
The United States still has no comprehensive market-structure statute for digital assets. 👁️🧵
3/4 Market access is moving anyway.
- The SEC has granted a five-year exemption for tokenized U.S. stocks on approved on-chain venues.
- The CFTC has said wallet and interface providers can connect users to regulated derivatives markets without registering as brokers.
- Separate tax legislation on small transactions, mining and staking is also advancing.
Banca d’Italia just drew a hard line.
Crypto firms in Italy must screen every transfer against sanctions lists.
No minimum threshold. Not €100. Not €10. Not €1.
A Sept 7 communication makes this operational, not theoretical. 👁️🧵
5/ This is the third phase of EU crypto regulation:
- Build the rulebook (MiCA + TFR)
- Get authorized
- Prove the systems work every day
A MiCA license does not equal sanctions compliance. They are parallel obligations.
Veriscope joins @Covalent_One Compliance Layer.
VASPs using Covalent can now access Veriscope for Travel Rule compliance — connect once through a normalized adapter, no separate integration to maintain.
Read more details 👁️👇
medium.com/shyft-network/ver…
South Africa has, for the first time, defined when moving crypto counts as crossing a border.
The National Treasury and Reserve Bank published a draft Crypto Asset Manual, extending a broader capital-flow overhaul proposed in April. 👁️🧵
4/ The stated aim is narrow: prevent crypto from routing around South Africa's capital controls, and give authorities visibility into illicit flows.