Enhanced User Safety through Strategic Verification with Toobit's VASP Membership
In a significant move, Toobit, a leading cryptocurrency derivatives exchange, has joined the VerifyVASP network, a leading Travel Rule solution provider. This collaboration empowers Toobit to handle the complexities of regulations, enabling users to focus on their trading strategies with confidence.
The membership in the VerifyVASP network connects Toobit to a global network of verified virtual asset service providers (VASPs), strengthening its platform's defense against financial crimes such as money laundering and fraud in cryptocurrency transactions.
The VerifyVASP network helps Toobit comply with the FATF Travel Rule, a mandate that requires VASPs to share verified information about transaction originators and beneficiaries to prevent illicit activities. With over 85 jurisdictions enforcing this rule as of mid-2025, Toobit's adoption of VerifyVASP's solution ensures it complies with global regulatory standards, improving user security and enabling law enforcement to better track and prevent illicit on-chain activities.
The need for such verifiable security solutions is underscored by the rising threat landscape in crypto. In the first half of 2025, over $2.17 billion was stolen from cryptocurrency services, a figure surpassing the total thefts of 2024. By facilitating fully compliant transaction verification and increasing transparency, Toobit's VerifyVASP membership directly contributes to financial crime prevention and fosters user trust in its trading environment.
Toobit offers a deep liquidity and cutting-edge technology, providing a fair, secure, seamless, and transparent trading experience. The exchange can be accessed at www.toobit.com, and users can contact the team at [email protected] for more information. Toobit's Chief Communication Officer is Mike Williams.
This alliance represents approximately 98% of the global virtual asset market, signifying the growing importance of regulatory action in the crypto world. A recent FATF report from June 2025 revealed this regulatory action is a direct response to rising threats. For traders who thrive exploring new frontiers, Toobit is built to meet their needs, offering an award-winning platform for trading digital assets. Every trade on Toobit is an opportunity to discover what's next.
[1] VerifyVASP Network Press Release, Toobit Joins VerifyVASP Network, link [2] FATF Travel Rule Implementation, link [3] CipherTrace Cryptocurrency Anti-Money Laundering Report, link
- Toobit, a leading cryptocurrency derivatives exchange, has joined the VerifyVASP network, a Travel Rule solution provider for virtual asset service providers (VASPs), connecting it to a global network that strengthens its platform's defense against financial crimes like money laundering and fraud in cryptocurrency transactions.
- This collaboration allows Toobit to comply with the FATF Travel Rule, a mandate requiring VASPs to share verified information about transaction originators and beneficiaries, improving user security and enabling law enforcement to track and prevent illicit on-chain activities more effectively.
- As of mid-2025, over 85 jurisdictions enforce this rule, making Toobit's adoption of VerifyVASP's solution essential for complying with global regulatory standards in finance, business, and technology.
- In a significant move responding to the rising threat landscape in crypto, Toobit's membership in the VerifyVASP network directly contributes to financial crime prevention and fosters user trust in its trading environment, offering a fair, secure, seamless, and transparent trading experience for traders exploring new frontiers in digital asset trading.
