Travel RuleTravel Rule

How is CoKeeps required to comply with the Travel Rule?

As a Virtual Asset Service Asset Provider (VASP), CoKeeps is required to comply with Travel Rule in relation to the Financial Action Task Force (FATF) Guidance on Targeted Update on Implementation of the FATF Standards on Virtual Assets and Virtual Asset Service Providers by exchanging specific customer information during transactions.

Apart from the FATF requirement, CoKeeps is legally obligated to ensure compliance with the Travel Rule as the Guidelines on Prevention of Money Laundering, Countering Financing of Terrorism, Countering Proliferation Financing and Targeted Financial Sanctions for Reporting Institutions in the Capital Market by the Securities Commission Malaysia (SC) governing Registered Market Operators, Digital Asset Exchange in Malaysia requires all digital asset transfers are adhered to the Travel Rule requirements.

Travel Rule requirements

For a VASP to comply with the Travel Rule, CoKeeps is required to obtain and record specific information about both the originator and the beneficiary of a transaction:

Information on the Originator:

• Full name
• Distributed Ledger Address and/or Crypto-Asset Account Number: If the transfer is registered on a DLT network
• Physical Address and Identification: Including official personal document number, customer identification number, or date and place of birth
• Legal Entity Identifier (LEI): If available, or another official identifier

Information on the Beneficiary:

• Full Name Distributed ledger address and/or crypto-asset account number:
• Similar to the originator’s details Legal Entity Identifier (LEI):
• If available or relevant.

The information provided will enhance our due diligence processes, risk assessment capabilities, and regulatory compliance within the financial system. At CoKeeps, we prioritize customer privacy and confidentiality. Accordingly, this information will only be disclosed to authorities or regulators when mandated by law. For further details, please refer to our Privacy Policy.

Sending and Receiving crypto with a CoKeeps customer

If you receive Travel Rule information from CoKeeps, it indicates that the sender is located in a jurisdiction where the Travel Rule has been implemented into local legislation. In such cases, CoKeeps fulfils its Travel Rule obligations by securely sharing the required information with you. This information will be provided to your team via an encrypted, password-protected email to ensure data security and confidentiality.

View other Compliance documents