Reporting of unverified self-hosted wallet transfers starts

What changes

Ordering and beneficiary institutions must report transfers involving unverified self-hosted virtual asset wallets.

What this means for your business

AML and identity: crypto businesses need processes to verify wallet ownership and report unverified self-hosted wallet transfers. Compliance, operations and product teams all have a role.

Who it applies to

Virtual asset service providers, Banks

Official source

https://www.austrac.gov.au/industry-and-business/obligations-and-guidance/additional-guidance/travel-rule/additional-travel-rule-obligations-when-transferring-virtual-assets