1/ Exciting news for VASPs (Read: #crypto businesses)! 🤩

We're launching #VeriscopeIaC, a powerful solution 💪 streamlining the Veriscope server deployment process. 🚀

More details here 👉 tinyurl.com/y45ebf4n 2/ It integrates with popular platforms & tools like #AWS, #Terraform, and #Ansible, & is flexible enough to work with other cloud platforms too! ☁️🔧

 VASPs, get ready to experience smooth deployment, from setup to usage! 🌟

1/ UK Treasury's A. Griffith 🇬🇧 tells @CNBC UK's #cryptore gulations are coming soon. ⏳🔒

He reminded that post-#Brexit, UK controls rulebook 📖✊, aiming for agility & balance. ⚖️ @CNBC 2/ In Feb, the #UK gov outlined proposed crypto rules 📃 for the turbulent industry. 💨📉

One of its key proposals was to get FCA-registered firms 🏦 to apply for a new FSMA-based regime. 🔐🔧

1/ Hello Shyftoshis! We're thrilled to announce our first 2023 monthly overview 🎉

Join us as we review our progress and set the tone for a productive new month 💪

From dev integrations and updates to community campaigns, it is a productive start to the year 🚀🌟 2/ Knowledge is power 💡 We keep educating our community and publish 30 blogs on:

CBDCs ✅️

China 🇨🇳 tinyurl.com/China-CBDC

India 🇮🇳 tinyurl.com/India-CBDC

Australia 🇦🇺 tinyurl.com/Australia-CBDC

Norway 🇳🇴 tinyurl.com/Norway-CBDC

+ more👉 medium.com/shyft-network

1/ We have reached part-7 of the Shyft Office Hours Wrap-up Recap series.

And now, we move into the Q&A session that was conducted near the end of the Office Hours. 🎤

So, let's dive straight into it. 👀 2/ Question: In light of the current slow adoption of the FATF Travel Rule, what can Shyft Veriscope do to accelerate its adoption by #VASPs⁉️

@josephweinberg: Pushing Travel Rule adoption in a way that would prove to be negative for the #crypto ecosystem is a big NO for me❗️

1/ Part-7(2)

We covered Veriscope installation in the previous Twitter🧵 & it's time to learn about the testing & onboarding processes.

So, let's dive straight into it 👀 2/ First, we will focus on the testing aspect:

There are two ways of testing the Veriscope API! These are :

Postman Collection ✅
Sandbox Environment ✅

Note: The testing stage will come only after downloading Veriscope 💡

1/ We have reached the 7th part of the Veriscope campaign. This is also the last of the campaign. 

And today, we will give you an end-to-end walkthrough on how VASPs can install, test, and get onboarded onto Veriscope. 👀 2/ But for now, we will only look into the installation part. Let’s start.

We must visit the Veriscope Github repo to begin the Veriscope installation process 👇

docs.veriscope.network/docs/3.0.0/ins…

The repo consists of a complete installer with components to download Veriscope.

1/ We have reached the 7th part of the Veriscope campaign. This is also the last of the campaign. 

And today, we will give you an end-to-end walkthrough on how VASPs can install, test, and get onboarded onto Veriscope. 👀 2/ But for now, we will only look into the installation part. Let’s start.

We must visit the Veriscope Github repo to begin the Veriscope installation process 👇

docs.veriscope.network/docs/3.0.0/ins…

The repo consists of a complete installer with components to download Veriscope.

1/ Part-6 (1)

Today, we will discuss the transaction workflow consideration from a VASP's viewpoint.

Let's start. Shall we? 👀

So, here we go: 2/ Both Originator VASPs & Beneficiary VASPs have to do the following throughout the transaction workflow for Travel Rule compliance. 

Name Screening 🔍
Wallet Screening 🔍
Know Your VASP 🔍
Transaction threshold 🔍

1/ Part-5 (2)

Starting from where we left off - Veriscope User Data Exchange.

Case-3: oVASP shares both originator & beneficiary data with the bVASP

🚨 In this case, the same issues that we saw in case -2 yesterday may crop up here as well. 

Check 👇

https://twitter.com/shyftnetwork/status/1605572110210174976?s=20&t=FeSQrulMDuP72LdsX88XDg

2/ 🚨 Resultantly, bVASP will reject the #crypto transaction due to an information mismatch. 

Once the transaction is rejected, oVASP will inform the originator 📩

And then, quite naturally, the originator will take this up with the beneficiary.

1/ Part-5(1)

Previously we discussed how Shyft Veriscope enables VASPs (read: #crypto businesses) to share user data securely.

Today, we will talk about how and why, outside Shyft Veriscope, the approach of facilitating user data between VASPs isn’t up to mark. 2/ However, we will discuss it in two parts.

Where do we start?

Straight from the fact that the current state of Travel Rule compliance is sub-optimal at best.

Why?

❌ Wrongful interpretation of FATF recommendations

Part-4(1)

1/ After Address Proofs does its job, which is enabling VASPs (read: crypto businesses) to determine who controls the wallet address, it's time for user data exchange.

Tap below if you missed our 🧵 On Address Proofs👇

https://twitter.com/shyftnetwork/status/1594873575336710144?t=ViM5mFj94RH4s7xFVmKKSg&s=19

2/ Facilitating user data exchange between VASPs - this is exactly what Shyft Veriscope is meant to do 🪢

It is, after all, Shyft's Travel Rule data-sharing product! 💡

1/ Part 3(2)

This week, we already covered #Shyft Discover's Know Your VASP capability. 

And today, we will look into how Shyft Discover solves the address attribution problem. 👀 2/ If you have been with us since day 1 of the Veriscope campaign, you will know we looked into the basics of address attribution in the early days of the campaign. 

If not, visit our previous 🧵 on address attribution below👇

https://twitter.com/shyftnetwork/status/1592616375113195522?t=_AP5fax_BbroIh6BqVOurw&s=19

1/ Part 3(1)

We've got a wonderful response to our previous Veriscope campaign, where we covered many facets of Shyft Veriscope.

Now, it's time to know how Shyft Veriscope solves the problems VASPs (read: crypto businesses) face during Travel Rule compliance💡 2/ As we discussed previously, there are two integral elements of Veriscope's Travel Rule compliance infrastructure: Shyft Discover & Veriscope Share.

But, for this week, we will focus on problems Shyft Discover solves and how it does it.

Let's go! 🚶‍♂️

Hey creative peeps! 👋 We have something exciting to announce. 

In addition to our 10-day Fest Raffle, we are announcing a competition for everyone with a creative bone 🦴🌟

Awesome prizes are awaiting you! Don't miss your chance! 🎊

And it begins today 🥳✨ Here are the simple rules👇🏼

Create original Shyft-themed holiday artwork. ✅

It can be a drawing, a MEME, a video, an animation, etc. ✅

Share it in our Discord #fest-creative channel. ✅

🚨 Remember, your art only! 🚨

1/ Paraguay's legislature 🇵🇾 has failed to reverse President Mario Abdo Benitez's veto on the crypto regulation bill. 📜

Let's start by turning the clock ⏰ a bit backward to know the chain of events here. 2/ The Senate initially greenlighted the crypto regulation bill in December 2021 🗓 & it moved to the President's desk for his signature. ✍️

The aim was to create a #crypto regulatory framework in the country. 🇵🇾

1/ Hi everyone! Ready for the coming holidays? 🎄

To celebrate together & have fun at the end of the year, we launched 10 Days of Holiday Fest till 23rd Dec today.⏰

Let's get this party started 🎉

Many mystical surprises for our amazing community🎁

See the details 🧵👇🏼 2/ We have planned a special raffle competition for our community 🎉🎁 #endofyearcelebration
 
And here's how it will work:

We will drop a question every day at 3 PM UTC between 12th Dec to 23rd on Twitter & Discord #fest-raffle channel. ✅

1/ Hong Kong 🇭🇰 has some of the world's strictest AML/CFT laws as far as the traditional financial industry is concerned.

Being one of the most important financial centers globally, it makes sense.

Now 👉 introducing crypto AML/CFT laws.

Will it change the crypto biz in HK? 2/ Hong Kong's legislative council has added crypto to its AML/CFT bill 📜

It includes the #TravelRule as well as the general #crypto AML/CFT updates.

A new licensing regime will come into force on 1st June next year 🗓️

1/ With 2022 almost at its end, now is a good time to know about crypto regulations worldwide, starting with Asia.

And it goes without saying Asia is a major player in the global #crypto market 🌏

After all, Asia accounts for 43% of global crypto activity. 📈 2/ However, the regulatory landscape for #crypto in Asia is complex and varied, with different approaches taken by different countries. 

For example, Japan 🇯🇵 and South Korea 🇰🇷 have heavily regulated the crypto industry and even legally recognize them.

1/ Part 2(4)

After learning about Shyft Discover, it's time to explore Veriscope Share! 👀

Because ⚠️ Veriscope Share is the second integral part of Shyft Veriscope's Travel Rule infrastructure. So, let's begin! 2/ In this 🧵, we will understand the Veriscope Share in detail. 

If you've missed our 🧵 on the basics of Veriscope Share, check it here👇

https://twitter.com/shyftnetwork/status/1595598374643941376?s=20&t=PH37DL2WlMa0pVn_hCtAoA

It will help you understand how Veriscope Share works more easily.

After BitLicense & a 2-year moratorium on PoW mining, New York State has come up with another proposed #crypto regulation. 📜

And according to many, it might impede the growth of the #blockchain industry in New York. ⚠️ But state authorities believe otherwise. 

In fact, they think this #regulations would only strengthen the industry. 🤝

1) Part 2(3)

Having understood the basics of Shyft Discover & Veriscope Share, it's time to understand how VASPs use them! 

However, for today, we will only focus on Shyft Discover’s workflow. Let's go. 2) It all starts with a customer requesting to withdraw his funds from a VASP (read: crypto business). 👀

Before we move forward, let's understand a few terms:

The VASP that the customer withdraws funds from is called Originating VASP or oVASP.