Trilogue discussions on the proposed “travel rule” for crypto-assets continue
May 25, 2022
On 28 April 2022, a first political trilogue on the proposed regulation on information accompanying transfer of funds and certain crypto-assets (Transfer of Funds Regulation) took place between the European Commission, the Council and the European Parliament. By way of background, the proposed legislation seeks to implement in European law the so called “travel rule” for crypto-assets, originating from the Financial Action Task Force (FATF) recommendation to accompany the transfer of crypto-assets with information on the originator and on the beneficiary of each transfer (see our earlier blog note here).