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Transfer of Funds Regulation (TFR)

The Transfer of Funds Regulation (TFR) is the EU's equivalent to the FATF's Travel Rule.

The regulation addresses transfers between CASPs and transactions involving CASPs to and from self-hosted wallets (unhosted wallets). The recent agreement introduces alterations in the anti-money laundering requirements for both scenarios.

According to the TFR, CASPs must gather and exchange customer data, when conducting transactions, which includes:

  • the name of the originator,

  • the originator's distributed ledger address,

  • the originator’s crypto-asset account number (e.g. account at CASP),

  • the originator’s address (including the country and official personal doc. number and the customer ID number, or alternatively, date and place of birth),

  • the current Legal Entity Identifier (LEI) of the originator, where available,

  • the name of the beneficiary,

  • the beneficiary's distributed ledger address,

  • the beneficiary’s crypto-asset account number, and,

  • the current LEI of the beneficiary, where available.

To find out more, see The Transfer of Funds Regulation (TFR) Summarised

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