Who is the regulatory authority in [country]?

Bermuda Monetary Authority

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

A threshold of $1000 applies to the obligation of the Payee's PSP and the Payer's PSP to verify the information on their respective customers in the case of transfers of funds not made from an account (Sections 23 (4) and 29 (3)). However, the obligation to transmit information applies regardless of the transaction amount.

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

Beneficiary information:

• Name and 
• Account number, but where the beneficiary does not have an account number, it should be replaced with a unique identifier that allows the transaction to be traced to the beneficiary;
  

Originator information:

• name, 
• account number, but where the originator does not have an account number, it should be replaced with a unique identifier that allows the transaction to be traced to the originator;
• One of the following:
  • Address,
  • date and place of birth 
  • customer identification number or
  • national identity number

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

Yes.

Section 24 Transfers of funds within Bermuda

Notwithstanding regulation 23(1), where both the payer’s PSP and the payee’s PSP are situated in Bermuda, it shall suffice if transfers of funds are accompanied by the account number of the payer or a unique identifier allowing the transaction to be traced back to the payer.

But if the payee’s PSP or a competent authority so requests, the payer’s PSP shall make available to the payee’s PSP, or the competent authority, complete information on the payer, within three working days of receiving that request from the payee’s PSP or the competent authority.

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

Unknown / Not specified

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

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