A report on European Union Crypto Assets Travel Rule has been released by the Blockchain Arbitration & Commerce Society (BACS) to provide a clear and practical guide to address the main issues triggered by Regulation (EU) 2015/847 in the face of money laundering.
The report from BACS, in collaboration with partners BITLAB, is available in summarised form to the public, with full access available to anyone becoming a BACS member.
This report covers:
- Who is subject to the travel rule?
- Exceptions
- What information will need to be provided?
- Transfers of funds exceeding €1000
- Transfers of funds not exceeding €1000
- Sanctions and monitoring
- Derogations
- Other provisions
- Entry into force
- Travel rule and DeFi
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