REGULATIONS

Crypto Travel Rule Regulations in

Bahrain

by

Central Bank of Bahrain

Travel Rule required from
Travel Rule regulation still pending
January 1, 2020
Content last updated

Who is the regulatory authority in [country]?

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

Travel Rule information transmission obligations apply regardless of transaction amount. 

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

AML-2A.2.7

Information accompanying all accepted crypto-asset transfer as well as wire transfer must always contain:

(a) The name of the originator;

(b) The originator account number (e.g. IBAN or crypto-asset wallet) where such an account is used to process the transaction;

(c) The originator’s address, or national identity number, or customer identification number, or date and place of birth;

(d) The name of the beneficiary; and

(e) The beneficiary account number (e.g. IBAN or crypto-asset wallet) where such an account is used to process the transaction.

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

AML-2A.2.1: Capital Market Licensees (including crypto-asset licensees) must consider all transfers of accepted crypto-assets as cross-border transfer rather than domestic transfer.

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

Information collection obligations as described below 👇

AML-2A.2.11: The CBB recognises that unlike traditional fiat currency wire transfer, not every accepted crypto-asset transfer involves (or is bookended by) two institutions (crypto-asset entities or financial institution). In instances in which an accepted crypto-asset transfer involves only one financial institution on either end of the transfer (e.g. when an ordering financial institution sends accepted crypto-assets on behalf of its customers, the originator, to a beneficiary that is not a customer of a beneficiary financial institution but rather an individual user who receives the accepted crypto-asset transfer using his/her own distributed ledger technology (DLT) software, such as an unhosted wallet), the financial institution must still ensure adherence to Paragraph AML-2A.2.7 for their customer. 

The CBB does not expect that financial institutions, when originating an accepted crypto-asset transfer, would submit the required information to individual users who are not financial institutions.

 However, financial institutions receiving an accepted crypto-asset transfer from an entity that is not a financial institution (e.g. from an individual accepted crypto-asset user using his/her own DLT software, such as an unhosted wallet), must obtain the required originator information from their customer.

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

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References

Notabene's commitment to privacy + security:

Bank-grade security for an insecure world
  • Passed rigorous security reviews by more than 50 institutions, including global banks and top 20 crypto exchanges
  • Annual SOC 2 Type II Audit for Security and Data Privacy Categories
  • Regular penetration testing by security audit leader Cobalt
Industry’s strongest protection for your customer data
  • Industry’s only escrowed exchange of encrypted PII
  • Compliant with EU GDPR, Singapore PDA
  • Plug-and-play Travel Rule end-user data consent component
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  • 24h/7 days a week uptime
  • Configurable enterprise SLA
  • SOC2 compliant disaster recovery and business continuity plans
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