Casp Travel Rule Application: Key Challenges and Public/Private Sector Solutions
With the 31 July 2025 deadline for full Travel Rule compliance fast approaching, cryptoasset service providers (CASPs) across Europe face significant technical and operational hurdles. This joint report from Adan, Global Digital Finance (GDF), and CryptoUK highlights the industry’s commitment to working hand in hand with European and national regulators to overcome these challenges and ensure effective, proportionate compliance.
The report identifies the main obstacles to implementation — including interoperability issues between Travel Rule protocols, complex requirements for self-hosted wallet verification, difficulties in counterparty due diligence, and regulatory fragmentation — and proposes a set of pragmatic, risk-based recommendations. These include:
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Extending the transitional deadline to July 2026, giving industry and solution providers time to address persistent interoperability gaps.
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Establishing a permanent public-private working group to coordinate solutions, share insights, and support phased compliance.
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Adopting a risk-based, proportionate approach to self-hosted wallet verification, reducing friction while maintaining strong AML/CFT standards.
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Developing a harmonised, publicly accessible register of licensed CASPs to streamline due diligence across jurisdictions.
By implementing these measures, regulators and industry can strengthen AML/CFT outcomes while supporting innovation and competitiveness within Europe’s digital asset ecosystem.
Download the full report to explore the recommendations in detail and join the discussion on shaping a robust, future-proof Travel Rule framework.
