The report introduces the Travel Rule framework and provides a guideline on how to comply with the market standards. Get the latest edition of the Travel Rule Report here!
The emergence of new blockchain technologies and new financial products services over the last decade has been one of the major changes to the global financial system. This new trend has brought innovation, increased efficiency, and improved financial inclusion.
Cryptocurrencies and virtual assets (VA) as an accepted part of the financial market have attracted the attention of regulatory bodies, including the Financial Action Task Force (FATF). As an international standard-setting body, the FATF sets rules for anti-money laundering, which is part of the Travel Rule that was first introduced in 2012. Those standards require the exchange of client data between financial intermediaries and are reviewed and updated in regular cycles.
What readers can expect from the Travel Rule Report
gwp has now published a Travel Rule Report in collaboration with InCore Bank AG. This report introduces the Travel Rule framework, demonstrates how financial intermediaries can comply with the standards, and highlights differences in countries that have implemented the rule.
Further, it provides a technical overview of existing protocols that can be implemented to comply with the Travel Rule and pinpoints the main differences to give an idea of what to expect and what requirements need to be addressed.
The Travel Rule Report provides an introduction to the Travel Rule framework and is a guideline on how to comply with the standards. Click on the picture and download the latest edition:
gwp advises financial services providers in Switzerland, Germany, and Liechtenstein on fulfilling national and international financial market regulatory requirements and the optimization of compliance and risk processes. The company supports its clients in their response to regulatory issues and works with them to develop holistic solutions.
gwp was founded in Zurich in 2014 by experienced financial market legal specialists Alex Geissbühler and Reto Weber and has been established as a proven expert in the field of regulatory developments with a wide-ranging service portfolio for banks, asset managers, and fintech.