I'm based in the UK, and I've just discovered, by trying to transfer LTC from a Cex to another Cex, that I can't anymore, because of the recent Travel Rule. Only transfers to non-custodial wallets and transfers of ERC-20 and BTC are allowed.
My question is: why is that? Why can we now only transfer ERC-20 and BTC from Cex to Cex? How is that restriction helping to fight crime and money-laundering? What was the idea behind this? How is blocking those but allowing me to transfer to a hardware wallet help in any way?
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