On June 6, the British crypto industry self-regulatory association CryptoUK has released an in-depth guide on the "complexities" of complying with the UK's crypto travel rules to help crypto businesses comply with the UK's travel rules. When asked about the key things businesses should consider when complying with the travel rules, the spokesperson said the rule applies to companies registered with the Financial Conduct Authority (FCA) and conducting non-custodial wallet transfers and inter-crypto asset business, i.e. one UK crypto company to another.
UK-based cryptocurrency businesses must collect, verify and share information about the source of funds and beneficiaries when transferring digital assets to another cryptocurrency business. The spokesperson added that the characteristics of the transfer will determine the level of information that businesses involved in the transfer should collect, verify and transmit.
UK crypto industry association CryptoUK publishes travel rules guide
2024-06-06 11:14:40
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