Travel Rule: BUY

This article describes the Travel Rule for BUY process. This process is shared between all providers, but the implementation might differ between providers.

The Travel Rule mandates that certain information about the sender and receiver of a transaction "travels" with the transaction itself when money (or value) is transferred between financial institutions or Virtual Asset Service Providers.

For transactions over a certain threshold (often €1,000), the following details are typically required:

• Sender (customer) Information

• Receiver Information

The compliant flow requires you (the Operator) to determine the wallet type (custodial vs unhosted) at the time of transaction, and if

• custodial - you must send the transaction details with the transaction to the custodian.

• If unhosted, you must acquire identifying customer details before (or at) the time of purchase.

• See: Travel Rule ProvidersPreview

• For BUY transactions, the transfer direction is Outgoing.

Create a VASP if you haven’t already done so.

• See: Travel Rule VASPsPreview

• Enable or disable the automatic evaluation of outgoing Travel Rule transfers.

• See: Travel Rule SettingsPreview

Implement Output Queues to hold approved transactions before transmission.

• See: Input QueuesPreview

Configure the tier used by compliant Terminals to include the TR requirement.

• Ensure your Terminal uses this the AML/KYC setting.

• See: AML / KYC SettingsPreview

• CAS initiates an outgoing Travel Rule transfer and acts as the originator (VASP).

• A Travel Rule envelope is created and the required data is sent to the Travel Rule Provider for further processing and delivery to the counterparty (VASP).

• Mandatory party data, as defined in the Travel Rule Settings, must be collected before the transaction can be completed.

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