TFR Crypto Travel Rule
European Union2023AML/CFTPaymentsOverview
Key Obligations
- Collect and verify sender and recipient information for crypto transfers ≥ €1,000
- Share originator and beneficiary data with the receiving VASP before or during the transfer
- Monitor and flag suspicious transactions to relevant financial intelligence units (FIUs)
- Apply enhanced due diligence (EDD) for high-risk transfers and jurisdictions
- Retain transaction data for a minimum of five years
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Related Regulations
FAQ
Who must comply with the Crypto Travel Rule in the EU?
VASPs including exchanges, wallet providers, and crypto payment firms operating within the EU or targeting EU users.
What information must be shared under the rule?
Name, address, and account number of the originator and beneficiary, including wallet addresses and identifiers.
Is there a threshold for applicability?
Yes, the rule applies to crypto transfers equal to or exceeding €1,000.
How is the Travel Rule enforced?
National regulatory authorities across EU member states oversee enforcement, supported by AML supervisors and FIUs.