Counterparty VASP

A counterparty VASP refers to the VASP on the other side of a transaction involving digital assets. In the context of the Travel Rule, which is a requirement under global AML regulations, the counterparty VASP is the institution receiving or sending the virtual asset transfer in conjunction with your own VASP.

Counterparty VASPs and the Travel Rule

When a transaction is initiated both the sending VASP and the counterparty VASP must exchange Travel Rule data.
Counterparty VASPs need to be identified to ensure that the counterparty is legitimate (i.e., not on a sanctioned list) and can securely store the Travel Rule data.
Counterparty VASPs must adhere to AML/CTF requirements in their jurisdiction while ensuring that the information exchange meets international standards, such as the FATF recommendations.
Effective communication and technical integration between your VASP and the counterparty VASP are essential to facilitate secure and efficient data exchange.

Be compliant in every Travel Rule scenario with 21 Travel Rule.

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