General information only. CryptoRegHub provides summaries for informational purposes and does not constitute legal or compliance advice. Always verify with official sources and consult qualified legal counsel before making compliance decisions.
CryptoRegHub provides plain-English summaries of crypto regulations for informational purposes only. This does not constitute legal, compliance, or financial advice. Regulations change frequently — always verify information with official sources and consult qualified legal counsel before making any compliance decisions.
The UK implemented the cryptoasset Travel Rule by inserting Part 7A (regulations 64A–64H) into the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLRs), through the Money Laundering and Terrorist Financing (Amendment) (No. 2) Regulations 2022 (SI 2022/860). The rules took effect on 1 September 2023, over a year before the EU Transfer of Funds Regulation applied to crypto-asset service providers, and the FCA published a statement of its expectations in August 2023 alongside HM Treasury-approved JMLSG guidance (Part II Sector 22, Annex 22-I). Part 7A applies to every cryptoasset transfer regardless of value: the basic information set (names, registered name for firms, account numbers or a unique transaction identifier) must accompany every inter-cryptoasset business transfer, and all originator information must be verified from an independent, reliable source. A value threshold governs only the extended originator information: where every business in the chain is in the UK it is supplied on request within three working days; where any is outside the UK it must accompany transfers of £800 or more, including linked transfers. The threshold was €1,000 until 30 June 2026, when the Money Laundering and Terrorist Financing (Amendment) Regulations 2026 (SI 2026/621) converted it to £800. Beneficiary businesses and intermediaries must check inbound information, chase gaps, decide on a risk basis whether to delay or return, and report repeated failures by a counterparty to the FCA. For unhosted wallets the regime is risk-based: firms may request information from their own customer and must not release the asset if a request goes unanswered.
Applies to cryptoasset businesses registered with the FCA under the MLRs when conducting cryptoasset transfers. This includes centralised exchanges, custodial wallet providers, and other businesses acting as intermediaries in crypto transfers.
Key requirements: (1) Every inter-cryptoasset business transfer must carry the originator's and beneficiary's names, the registered or trading name of any firm, and their account numbers or a unique transaction identifier (reg 64C(5)). (2) The originator's business must verify all originator information from an independent, reliable source and must not execute the transfer before complying (reg 64C(8)–(9)). (3) Extended originator information — customer identification number, address, passport/national ID/birth-certificate number, or date and place of birth — must be supplied within three working days on request for all-UK transfers, and must accompany cross-border transfers of £800 or more including linked transfers (reg 64C(2)–(6); £800 since 30 June 2026, previously €1,000). (4) The beneficiary's business must check, before releasing the asset, that the information has been received and that the beneficiary details match its own customer due diligence, request anything missing, and decide on a risk basis whether to delay or return the asset (reg 64D). (5) Intermediaries must check, chase and pass on the full information with the onward transfer (regs 64E–64F). (6) Beneficiary businesses and intermediaries must report repeated failures by a counterparty to the FCA (regs 64D(5), 64E(5)). (7) Unhosted wallet transfers: firms may request information from their customer on a risk-based assessment, including extended originator details on inbound transfers of £800 or more, and must not make the asset available if a request is not answered (reg 64G). (8) Firms must respond fully and without delay to written law-enforcement requests for Travel Rule information (reg 64H). (9) FCA expectations: take all reasonable steps, remain responsible when using third-party solutions, and for jurisdictions without the Travel Rule still collect, verify and store the information before sending and weigh the counterparty's jurisdiction in the release decision.
Always refer to official sources to confirm current requirements. CryptoRegHub summaries are for general guidance only.
Large fines, licence revocation, or criminal referral risk
This summary is for general informational purposes only and does not constitute legal advice. Always verify with official sources and consult qualified legal counsel.