Reminder of Travel Rule Requirements for VASPs

The Cayman Islands Monetary Authority (the “Authority”) hereby reminds all virtual asset service providers (“VASPs”) of the Notice issued on 22 February 2022.

All VASPs registered or in the process of registering with the Authority are required to advise the Authority on how they will comply with PART XA of the Anti-Money Laundering (Amendment) (No. 2) Regulations, 2020 (“AMLRs”) (the “Travel Rule”), by submitting details of their compliance arrangements, including the relevant policies and procedures and the use of resources (including technological tools), via email to vaspinfo@cima.ky by 31 March 2022. 

Since the date of the Notice issued on 22 February 2022, all new applicants for VASP registrations/licences have been required to indicate in their applications how they will comply with the Travel Rule related provisions as part of their compliance arrangements. This information should be included as an attachment when submitting their policies pertaining to Anti-Money Laundering/Counter Terrorist Financing via the REEFs application, APP 101-84 (Schedule E). See also updated REEFs Form Guidance on the Authority’s website. 

Should you require any further information, please contact vaspinfo@cima.ky.