UK Cryptoasset Travel Rule

The UK implemented the cryptoasset Travel Rule through amendments to the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLRs). The UK was among the first group of countries globally to apply the Travel Rule to cryptoassets, with the rules taking effect from 1 September 2023 — over a year before the EU TFR. The FCA published guidance on compliance expectations. Unlike the EU TFR (which applies to all transfers regardless of amount), the UK Travel Rule applies a GBP 1,000 threshold for transfers — below this, basic information is still required but verification requirements are lighter. The FCA has confirmed that Travel Rule compliance will be considered when assessing firms for authorisation under the new FSMA crypto regime.

Who does it apply to?

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

Key requirements: (1) For transfers of GBP 1,000 or above: originator must provide full name, account number/wallet address, and physical address or date of birth or national identity number. (2) Beneficiary CASP must collect beneficiary name and account number/wallet address. (3) For transfers below GBP 1,000: originator name and account number required. (4) Firms must verify information for higher-risk transfers. (5) Self-hosted wallet transfers: firms must apply enhanced due diligence for transfers above GBP 1,000 to/from unhosted wallets. (6) Firms must have policies for managing transfers with missing information.

Obligation types

Implementation timeline

Official sources

Always refer to official sources to confirm current requirements. CryptoRegHub summaries are for general guidance only.

Frequently asked questions