CryptoUK Releases a Travel Rule Guide

In an effort to assist the crypto industry in complying with the UK’s Travel Rule, CryptoUK, a self-regulatory trade association, has released a comprehensive guide.

This 36-page guide, created by the CryptoUK Travel Rule Working Group, aims to assist crypto businesses in navigating the complexities involved in adhering to the Travel Rule.

The group, led by Mark Aruliah from Elliptic and Catarina Veloso from Notabene, consulted with various industry experts to provide insights and perspectives on compliance challenges.

The UK implemented the Travel Rule for crypto businesses on September 1, 2023, requiring virtual asset service providers (VASPs) to collect, verify, and share information pertaining to crypto transfers. This includes conducting risk assessments before making cryptocurrency available to the recipient.