The travel rule requires any participating financial institutions in a transaction to exchange relevant beneficiary and originator KYC information. From June, 2020 this rule has been extended globally to all Virtual Asset Service Providers (VASP).
Does it apply to my business?
It probably does if your business is involved in:
Exchange of cryptocurrency (both crypto-fiat and crypto-crypto)
Transfer of cryptocurrency
Providing financial services related to the issuance, initial offer and sale of virtual assets
Providing custodian wallets
Please note: The information provided above does not, and is not intended to, constitute legal advice; instead, all information, content, and materials available on this site are for general informational purposes only. Visit the FATF website for additional information and guidelines on the travel rule.
Bringing trust and compliance to new financial systems
Reduce regulatory risk
Comply with the latest crypto regulations. Both real-world and blockchain-based KYC provides transparency you need for better customer risk assessment.
Build on new financial systems
Reducing compliance burdens allow you to fully focus on new opportunities that crypto brings to your business.
Establish trusted business relationships
Transact and exchange data with confidence. Create verified profiles and ownership proofs of blockchain addresses to build a network of trusted business partners and customers.
Travel Rule compliance
The first global crypto-specific financial regulation, known as the Travel Rule, comes into effect in June 2020. It requires any financial institution sending crypto funds to another financial institution to pass on relevant KYC information.