Despite a sharp decline in total and high-risk flows, Grinex stayed active.
In this Travel Rule live session, Yulia Murat, Head of Regulatory Affairs at Global Ledger, and Lana Schwarzman, VP of Global Regulatory and Compliance Strategy at Notabene, broke down what actually happens when you try to implement the crypto Travel Rule in your workflow — under EU TFR, MiCA, and FATF expectations.
What was covered during the session? Keep reading to find out.
Travel Rule: what VASPs need to know in 2025
The Travel Rule has moved from a future obligation to an everyday compliance reality for VASPs across the EU, UK, US, and APAC. With the EU’s Transfer of Funds Regulation (TFR) now fully in force, MiCA linking Travel Rule implementation to CASP licensing, and FATF pushing for stronger global alignment, regulators are making it clear: crypto firms must be able to identify counterparties, screen risks in real time, and stop illicit transfers before settlement.
The industry is shifting from "send the data when you can" to "pre-transaction Travel Rule compliance", integrated sanctions checks, and full counterparty risk management.
Against this backdrop, VASPs are racing to close implementation gaps, ensure interoperability, and build workflows that reflect how real crypto transactions move across chains, intermediaries, and jurisdictions.
Travel Rule: key insights from the live session
For VASPs navigating stricter crypto AML regulations across the EU, UK, US, and APAC, the FATF Travel Rule is no longer a technicality but a core operational requirement. During the live session, the compliance experts highlighted the most important insights VASPs should keep in focus as they prepare for full Travel Rule compliance in 2025.
1. Travel Rule is not about “sending data” — it’s about preventing risk
Regulators expect VASPs to use Travel Rule data to block suspicious or sanctioned transfers before they hit the blockchain and to file SARs based on those signals.
2. Most inbound crypto still lacks proper Travel Rule data
Fragmented protocols, slow adoption, and unilateral blockchain transactions mean many VASPs still receive incomplete information — especially on cross-border and multi-hop flows.
3. EU: Travel Rule is now a licensing condition, not a “nice to have”
Under TFR + MiCA, CASPs must show they can collect, verify, screen, and act on Travel Rule data (including blocking or rejecting transfers) to get and keep their license.
4. Compliance must move before settlement
Because blockchain transfers are irreversible, checks after the fact are too late. Pre-transaction authorization and “addressless until approved” payment flows help VASPs prevent fraud and sanctions breaches in real time.
Watch the full session recording
The full session covers concrete examples, regulatory nuances, key challenges, and practical solutions to help VASPs achieve seamless crypto AML compliance aligned with global standards.
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