For virtual assets, Travel Rule implementation usually requires VASPs or CASPs to identify counterparties, collect required originator and beneficiary information, exchange or make it available through a secure method, and retain records according to local rules.
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Glossary term
What is Travel Rule?
The Travel Rule is the application of FATF Recommendation 16 and local implementing rules to qualifying transfers, requiring originator and beneficiary information to accompany or be exchanged around a payment or virtual-asset transfer. Thresholds, required fields, and technical messaging methods vary by jurisdiction.