TRAVEL RULE WORKING GROUP

WORKING GROUP CO-CHAIRS

Mark Aruliah

Mark Aruliah

Senior Policy Advisor, Elliptic
Catarina Veloso

Catarina Veloso

Regulatory & Compliance Senior Associate, Notabene

ABOUT THIS WORKING GROUP

The Financial Action Task Force's (FATF) Travel Rule was passed into UK law on July 21st 2022, when the UK published the Money Laundering and Terrorist Financing (Amendment) (No.2) Regulations (MLTFR 2022) and introduced Travel Rule obligations to UK cryptoasset businesses. Following a grace period the law came into enforcement on September 1st 2023.

As understanding and complying with this legislation is complex, CryptoUK’s Travel Rule Working Group was formed in 2023 to provide a forum for our members to share knowledge and best practices.

Since its inception the Travel Rule Working Group has: 

🟠 Worked with all the key stakeholders, including the Electronic Money Association (EMA), the Joint Money Laundering Steering Group (JMLSG), the Financial Conduct Authority (FCA) and HM Treasury (HMT) to provide industry perspectives on draft guidance, operational complexities and compliance challenges.

🟠 Collaborated closely with the Joint Money Laundering Steering Group (JMLSG) as it drafted its new guidance on cryptoasset transfers, which it published on August 31st 2023.

🟠 Improved understanding and shared best practice through regular member-led meetings.

Participation in working groups is a CryptoUK member benefit. Please click here to express your interest in joining this group.

THE TRAVEL RULE GOOD PRACTICES GUIDE

CryptoUK’s Travel Rule Working Group is thrilled to announce the launch of our Travel Rule Good Practice Guide.

This comprehensive document is designed to support the UK’s thriving digital asset community in enhancing Travel Rule compliance, reducing financial crime, and strengthening consumer protection.

About the Travel Rule Good Practices Guide

The guide aims to empower VASPs, cryptoasset businesses, and digital asset industry participants with:

🟠 A deeper understanding of the Travel Rule and its application in the UK

🟠 Insights into current compliance approaches by members of the Travel Rule Working Group7

🟠 Guidance on addressing the challenges of compliance amidst regulatory disharmony

Get your free copy of the guide here.

SOLUTIONS PROVIDED BY CRYPTOUK MEMBERS

The following CryptoUK members provide Travel Rule solutions. Whilst they are valued members of our community CryptoUK is not liable or accountable for the solutions provided by our members. Please conduct your own due diligence before purchasing.

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CONSULTATION RESPONSES & RESOURCES

The Travel Rule Good Practices Guide

Author: CryptoUK Travel Rule Working Group
Date Posted: 05/06/24
Type: Training

CryptoUK’s Travel Rule Working Group Responds To FATF’s Recommendation 16 On Payment Transparency

Author: CryptoUK
Date Posted: 22/05/24
Type: Training

The UK Travel Rule Has Just Gone Live: Here’s What It Means

Author: Elliptic
Date Posted: 09/01/24
Type: Training

CryptoUK Responds to Joint Money Laundering Steering Group’s Travel Rule Guidance Consultation

Author: CryptoUK
Date Posted: 02/01/24
Type: Training