The State of Crypto Travel Rule Compliance Report 2024
After a pivotal 2023, the momentum of global regulatory enforcement in the crypto sector shows no signs of slowing down. The question remains, however: How are VASPs dealing with the significant policy shifts?
The latest edition of Notabene’s State of Crypto Travel Rule Compliance report offers an in-depth look at the crypto regulatory environment for 2024. It examines the current state of compliance, outlines the main challenges in adopting these regulations, and suggests actionable steps for key stakeholders to address these issues.
This year's report underscores the importance of the FATF Travel Rule in preventing high-risk transactions from entering the blockchain ecosystem, underlining its critical role in the sector.
Drawing on comprehensive feedback from our industry survey, combined with expert opinions and thorough data analysis, the report presents valuable insights on the current state of Travel Rule adoption, prevalent compliance strategies and the most pressing challenges that hinder full adherence today.
Download this report to access the strategic insights necessary for successful navigation through the year, marked by the widespread adoption of the Travel Rule.
Snapshot of Insights
96%
of survey participants are either compliant with the Travel Rule or on course to achieve compliance in 2024.
64%
have implemented pre-transaction counterparty due diligence.
66%
restrict withdrawals that fail to meet compliance standards, and over 20% return deposits lacking Travel Rule information.
47%
report complying in multiple jurisdictions, a significant increase of 104% from the previous year.
