{"id":83881,"date":"2023-09-01T14:53:46","date_gmt":"2023-09-01T11:53:46","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=83881"},"modified":"2025-09-12T13:53:44","modified_gmt":"2025-09-12T10:53:44","slug":"travel-rule-comes-into-force-in-the-united-kingdom","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/travel-rule-comes-into-force-in-the-united-kingdom\/","title":{"rendered":"Travel Rule comes into force in the United Kingdom"},"content":{"rendered":"<p>From September 1, UK-registered <span data-descr=\"cryptocurrency service providers\" class=\"old_tooltip\">VASP<\/span><a href=\"https:\/\/www.fca.org.uk\/news\/statements\/fca-sets-out-expectations-uk-cryptoasset-businesses-complying-travel-rule\"> are required<\/a> to comply with the FATF&#8217;s Travel Rule. It requires monitoring of crypto transactions for AML purposes.<\/p>\n<p>The Travel Rule requires a covered institution handling digital-asset transfers to pass customer information to the recipient exchange or institution. The data must include the sender&#8217;s and recipient&#8217;s names and addresses, as well as account details.<\/p>\n<p>If a payment is sent from a jurisdiction that has not implemented the Travel Rule, a VASP must conduct a risk assessment regarding whether to proceed with the transfer, according to the directive.<\/p>\n<p>With regard to transfers from the United Kingdom to countries that have not adopted the Travel Rule, the <span data-descr=\"Financial Conduct Authority\" class=\"old_tooltip\">FCA<\/span> requires companies to collect and verify all necessary data.<\/p>\n<p>Earlier, the FATF expressed<a href=\"https:\/\/forklog.com\/en\/news\/fatf-expresses-concern-over-pace-of-travel-rule-implementation\"> dissatisfaction with the pace of implementation<\/a> Travel Rule.<\/p>\n<p>Since June 1, the rule<a href=\"https:\/\/forklog.com\/en\/news\/japans-parliament-approves-travel-rule-implementation-to-begin-on-june-1\"> has been in force<\/a> in Japan.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>From September 1, UK-registered VASPs must comply with the FATF&#8217;s Travel Rule, which requires monitoring of crypto transactions for AML purposes.<\/p>\n","protected":false},"author":1,"featured_media":83882,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[971,36,810],"class_list":["post-83881","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-fatf","tag-regulation","tag-united-kingdom"],"aioseo_notices":[],"amp_enabled":true,"views":"39","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/83881","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=83881"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/83881\/revisions"}],"predecessor-version":[{"id":83883,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/83881\/revisions\/83883"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/83882"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=83881"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=83881"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=83881"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}