Can token transfers be automatically tracked on the IC blockchain?

Developers
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Is it possible to automatically track transfers of tokens from one canister to another on the IC (e.g. using the principal ID somewhere on the blockchain), or would it need to be included in canister code for that information to be retained?

I’m asking both because I’m interested in knowing the privacy level of the IC blockchain, as well as potential KYC implications wrt trades.

Thanks in advance for any responses.

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The NNS canisters come with a builtin ledger for ICP transfers. However, other tokens will need to handle their own ledgers, there is no standard yet but I put some ideas in this thread.

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Thanks. I’ll keep an eye on the other thread for updates.