What is the Travel Rule?

Under the EU’s Transfer of Funds Regulation (TFR), all crypto-asset service providers must verify the information on originators and beneficiaries accompanying transfers of crypto-assets, for the purposes of preventing, detecting and investigating money laundering and terrorist financing. As such, crypto-asset service providers 
must verify the ownership of wallets used in transactions with crypto-assets such as investments. This obligation implements international standards set by the Financial Action Task Force (FATF), the Recommendation 16, also known as the Travel Rule.

In response to TFR, STOKR has implemented adjustments to how we handle investments with crypto-assets such as BTC and stablecoins on our platform. The Travel Rule mandates that Virtual Asset Service Providers (VASPs) like STOKR take steps to identify the counterparties that transact through STOKR. Such steps include requiring us to confirm information about both the sender and the receiver for all VASP to VASP crypto transactions or, in some cases, confirm ownership information for self-custody wallets transfers.

The verification process is simple and secure. You will never be asked to share your private keys, and you always remain in full control of your wallet.