FinCEN Travel Rule
A BSA requirement that financial institutions pass along originator and beneficiary information on qualifying funds transfers.
The Travel Rule requires financial institutions to transmit certain information — such as the name, account number, and address of the originator and beneficiary — to the next financial institution in a funds-transfer chain. The threshold is currently $3,000.
Originally written for wire transfers, the rule applies to convertible virtual currency transfers as well. For crypto businesses (Virtual Asset Service Providers), complying means building workflows to collect, transmit, and receive the required counterparty information when sending or receiving qualifying transactions — often using shared Travel Rule messaging protocols.
The FATF has issued parallel international guidance, so a VASP operating across borders typically has to satisfy both FinCEN’s rule and the equivalents in other jurisdictions.
This glossary entry is educational and does not constitute legal advice. Always consult qualified legal counsel for jurisdiction-specific guidance.