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Travel Rule

We provide a one-stop shop for all your Global Travel Rule needs. Simply integrate with us once and we will facilitate Travel Rule compliance.
Number of Transactions
Access to all Binance entities globally
Transaction volume
VASPs connected in GTR's network
Protocols Supported
Alliance Members
Why use the Global Travel Rule platform?
One platform across regions - Global Travel Rule helps streamline your Travel Rule requirements with an FATF-compliant solution. We regularly analyze data-driven news and stay on top of regulatory changes to enable you to operate with peace of mind.
Our experience managing large volumes of sensitive data means we are able to offer best-in-class data security. Our advantage is that only you hold the encryption key to your data so no outsiders can access it!
We offer an easy, one-time integration with the largest exchange in the world (Binance). Ensure that your operations stay uninterrupted and that you stay on track with your business goals.
Last Call for Compliance: How to Survive the EU and UK Travel Rule in 2024
Last Call for Compliance: How to Survive the EU and UK Travel Rule in 2024
In an increasingly regulated financial world, implementing the Travel Rule is paramount for compliance and operational success. With EU Regulation 2023/1113 setting a compliance deadline of December 30, 2024, and the UK's recent implementation of Travel Rule stirring the sector, the time to act is now.
Frequently Asked Questions
Who is the Financial Action Task Force (FATF)?
The Financial Action Task Force (FATF) is the inter-governmental body responsible for reviewing and monitoring money laundering, terrorism financing, and other forms of organized crimes. In addition, they have developed the FATF Recommendations, a set of international standards that aid law enforcement in the fight against crime. More than 200 countries and jurisdictions have committed to complying with the FATF Recommendations.
What is the FATF Travel Rule?
Travel Rule requires both financial institutions and VASPs—otherwise known as Virtual Asset Service Providers (VASPs)—to collect personal data on participants in transactions exceeding 1,000 USD/EUR. As of today, different jurisdictions have different transaction threshold amounts. For financial institutions and VASPs, this means gathering exchange originators and beneficiary identifying information of both senders and recipients: physical address, unique ID number (national identity number, etc.), customer identification number, or date and place of birth.
Do I need to comply with the FATF Travel Rule?
If you are a financial institution or VASP located in any of the FATF-member countries, you will be required to comply with the FATF Recommendations, including the FATF Travel Rule.
How does the Global Travel Rule work?
Once a transaction request above the set threshold has been made, Global Travel Rule will obtain the relevant information of both the sender and recipient. This data, encrypted by a secure SHA-256 algorithm, will then be scanned to see if it meets regulatory requirements and determine whether it flouts the FATF Recommendations.
Who is responsible for storing the transmittal information?
Global Travel Rule (GTR) will only store the transmittal information after encryption. However, GTR (Global Travel Rule) will not store user's PII information in plain text. Instead, information will be hashed and later encrypted by SHA-256, an algorithm used to ensure cryptographic security. The hashing is irreversible i.e. the original text cannot be recovered. GTR Central VASP Service will only receive encrypted hashed information.
How are personal and other private data/information secured?
Information is never stored in plain text. Instead, the information will be hashed using SHA-256 (Secure Hash Algorithm 256-bit) Algorithm, used for cryptographic security. Because SHA-256 produces irreversible and unique hashes, the original text cannot be recovered once the data is hashed and encrypted. The hashed information will be transmitted using Mutual TLS, or mTLS for short, which is used in a Zero Trust security framework to ensure that the parties at each end of the transaction are who they claim to be via proof of having the correct private key. The information within their respective TLS certificates provides additional verification. The information is made visible only to GTR, not among VASPs.
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