Travel Rule requirements are set forth in the Financial Transaction Reporting Wire Transfer Regulations 2018, which apply to crypto businesses according to Section 4(2) of the DARE Rules 2022.

Who is the regulatory authority in [country]?

Securities Commission of the Bahamas

What is the minimum threshold for the Crypto Travel Rule in [country]?

Travel Rule information is required for every transaction regardless of amount, but a wider scope of information is required for transactions above 1,000 BSD. 

What personally identifiable information must VASPs collect and share for the Crypto Travel Rule in [country]?

According to Sections 4 and 7 of the  Financial Transaction Reporting Wire Transfer Regulations 2018

Originator information in TXs of 1000 BSD or more:

• Name
• Account number, where an account is used to process the transaction or, if no account is used, a unique transaction identifier
• One of the following:
  • Address
  • Date and place of birth
  • National identity number
  • Customer identification number

Beneficiary information in TXs of 1000 BSD or more:

• Name
• Account number, where an account is used to process the transaction or, if no account is used, a unique transaction identifier

Originator information in cross-border wire transfers below 1000 BSD:

• Name
• Account number, where an account is used to process the transaction or, if no account is used, a unique transaction identifier

Beneficiary information in cross-border wire transfers below 1000 BSD:

• Name
• Account number, where an account is used to process the transaction or, if no account is used, a unique transaction identifier

Are there differences in customer PII requirements for cross-border transfers versus transfers within [country]?

Yes. 

(section 7 of the Regulations) Cross-border transfers require a limited scope of information transmission for transactions below 1000 BSD. 

(section 6 of the Regulations) Domestic transfers may be accompanied solely by the account number or the originator or a unique transaction identifier. 

• The originator and beneficiary VASPs must both be based in the Bahamas
• The originator VASP must provide the complete originator information to any intermediary or beneficiary institution that requests it within 3 business days of the request.  

What are the non-custodial or self-hosted wallet requirements in [country]?

Not specified. 

Why choose Notabene for crypto Travel Rule Compliance in [country]?

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