Financial Crime

Issue 1223 / 21 September 2023

Overview

  • Cryptoasset transfers and the Travel Rule - JMLSG announces HM Treasury approval

Joint Money Laundering Steering Group

Cryptoasset transfers and the Travel Rule - JMLSG announces HM Treasury approval - 20 September 2023

The Joint Money Laundering Steering Group has announced that it has received ministerial approval from HM Treasury of its revisions to chapter 22 (Cryptoasset providers and custodian wallet providers) in Part II of its anti-money laundering and counter-terrorist financing (AML/CTF) Guidance. The revisions were published in August 2023 and relate to the implementation of the Financial Action Task Force’s Recommendation 16 (the Travel Rule) in Part 7A of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulation 2017 (SI 2017/692). The Travel Rule came into effect on 1 September 2023.

Press release