Report: 90% of Surveyed Crypto Firms Expect to Comply with Travel Rule by Mid-2025
According to CoinDesk, Notabene's latest "2025 Travel Rule Compliance Report" indicates that 90% of the 91 surveyed virtual asset service providers expect to fully comply with anti-money laundering travel rules by mid-2025, with all respondents committed to meeting the standards by the year's end. The report notes that, with the U.S. adopting a more proactive regulatory stance on cryptocurrency and the implementation of the EU Funds Transfer Regulation, the proportion of VASPs requiring beneficiary information confirmation before allowing withdrawals has significantly increased from 2.9% in 2024 to 15.4%. Approximately 20% of VASPs have started issuing refunds for transactions initiated without complete information. Notabene's CEO stated that despite the accelerated compliance process, the lack of interoperability between systems in different jurisdictions remains a major challenge.
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