Crystal and the crypto travel rule
We connect you with our expert Travel Rule partners to enhance
your compliance journey
The Travel Rule for crypto states that all crypto companies must obtain, record and communicate accurate information of both sender and recipient for virtual asset immediately and securely.
Determine wallet type
Before transacting, the originating VASP must determine if the transaction is being made to a hosted or self-hosted wallet.
Identify and verify the beneficiary VASP
Before the transaction can begin, the originator must verify its name, account number, and physical address (or national identity number). The beneficiary VASP must also verify its name and account number. This can be done using a trusted labelling tool.
Assess the risk level of the counterparty VASP
Both parties must conduct due diligence on the counterparty VASP, including screening for sanctions, to assess the risks related to transacting with each other.
Securely transmit originator and beneficiary information
Once both parties have verified information and performed due diligence, the information must be transmitted and stored securely along with the transaction.
We partner with travel rule specialists who can build, scale, and maintain the technology solution best suited to you and your organisation's needs.
Building a better, safer blockchain future
Crystal is a blockchain analytics company building risk management solutions to enable the safe adoption of cryptocurrencies
Thanks to Crystal’s tool we can easily identify high-risk transactions, investigate them thoroughly, and properly adhere to regulatory requirements for our clients. The level of continuous support and communication with the Crystal Blockchain team remains outstanding!