Payments Giant Joins Crypto Compliance Initiative Amid Bankruptcies FN Media Group Presents Microsmallcap.com Market Commentary NEW YORK , Aug. 31, 2022 |PRNewswire| -- As the crypto winter shows signs of slowing , companies are rushing to become compliant after a string of bankruptcies within the space. Regulatory compliance is critical to improving crypto''s reputation among investors. It is also essential for mitigating liquidity risks, an issue that caused crypto giants Voyager Digital and Celsius to file for bankruptcy . Last week, Payments giant PayPal Holdings, Inc . (NASDAQ: PYPL ) joined Coinbase Global ''s (NASDAQ: COIN ) Travel Rule Universal Solution Technology (TRUST) network. The TRUST network, which was launched in February by 18 virtual asset providers, was created to "protect the security and privacy" of customers, while complying with the bank industry''s Travel Rule. In the past, companies like Block Inc. (NYSE: SQ ) (formerly Square Inc.) have rejected proposed FinCEN regulations, while companies like WonderFi Technologies Inc (TSX: WNDR ) (OTCQB: WONDF ) and CME Group (NASDAQ: CME ) are focused on exceeding regulatory requirements.