Travel Rule regulations

Rules and requirements, who's obliged to comply, how it impacts businesses and more...

What is the Travel Rule?

The travel rule requires financial institutions participating in a transaction to exchange relevant beneficiary and originator KYC information. From June 2019, this rule has been extended globally to most crypto businesses.

Says who?

FATF, the global anti-money laundering watchdog, issued guidance for financial regulators in early 2019. The member governments ratified these guidelines in June of 2019.

What this means practically is that financial regulators had one year until June 2020 to globally implement the guidelines in their local regulation.

Most financial regulators around the world have either implemented or are currently working on implementing the Travel Rule in their jurisdictions.

Does it apply to my business?

FATF has created a new definition of businesses operating in the crypto space that they call a VASP (Virtual Asset Service Provider). These VASPs now need to become licensed in jurisdictions they operate in.

The Travel Rule probably does apply if your business is involved in:

The Travel Rule around the world

Regulators around the world are implementing the Travel Rule in their jurisdictions. As they release their implementation plans or guidelines, we will update this page accordingly.

Singapore

🇸🇬
January 28, 2020
Travel Rule regulation under implementation

Switzerland

🇨🇭
January 1, 2020
Travel Rule regulation under implementation

United States

🇺🇸
March 13, 2013
Travel Rule regulation under implementation

European Union

🇪🇺
Travel Rule regulation under implementation

United Kingdom

🇬🇧
Travel Rule regulation under implementation

South Africa

🇿🇦
Travel Rule regulation under implementation
Comply with the travel rule

Verify who's on the other side of a transaction

Exchange the Travel Rule information via secure channels

Work with any company, regardless of the protocol they use

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