PayPal joins the TRUST Network, Coinbase's compliance network

According to BlockBeats, as reported by CryptoBriefing on August 23, Payment giant PayPal has joined Coinbase's Travel Rule Universal Solution Technology (TRUST) network, which means PayPal will try to comply with the so-called Travel Rule requirements of the Bank Secrecy Act of U.S. financial Institutions, Share information about customers when they make transactions over a certain amount. Coinbase's TRUST network is designed to disclose necessary data while protecting user privacy, avoiding central storage of user data, and ensuring that its members are trustworthy through Exiger's compliance and risk management solutions. As of now, Coinbase's TRUST network has 38 members, including head cryptocurrency trading platforms like Binance US, Crypto Com, Gemini, and Kraken, As well as USDC issuer Circle, investment firm Fidelity Digital, stock and crypto trading app Robinhood and crypto lending service provider Nexos.