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What is the Travel Rule?

The Travel Rule, introduced by the Financial Action Task Force (FATF) in June 2019, is a global anti-money laundering requirement. Under this rule, Virtual Asset Service Providers (VASPs) — such as cryptocurrency exchanges and custodians — must collect and transmit specific information about the sender and recipient when transferring virtual assets across institutions. This information may include:
  • Names of the sender and recipient
  • Sender’s sending address and recipient’s receiving address
  • Additional identity or corporate information for transfers above certain thresholds
These details are not recorded on-chain. Instead, they are transmitted through secure, encrypted channels between regulated institutions solely for Anti-Money Laundering (AML) and Counter-Terrorist Financing (CFT) compliance.

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Why is the Travel Rule required in Singapore?

The Monetary Authority of Singapore (MAS) fully adopts FATF standards and requires all Digital Payment Token (DPT) service providers to comply with the Travel Rule when transferring assets between institutions. For Cobo Singapore (SG) customers, this means that when receiving or initiating a transfer, you must provide the required Travel Rule information before the transaction can be processed and completed. These requirements apply only to Cobo SG customers, in accordance with MAS regulations.

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When does the Travel Rule apply?

Applicable customers:
  • Cobo SG customers
Applicable scenarios:
  • Receiving transactions (deposits)
  • Initiating transactions (withdrawals)

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What information is required?

The Travel Rule requires you to provide information about the transaction counterparty (the sender or the recipient), and the specific information required depends on whether the transaction amount exceeds 1,500 Singapore dollars (SGD).
  • For transfers ≤ 1,500 SGD:
    • Sender name
    • Sender sending address
    • Recipient name
    • Recipient receiving address
  • For transfers > 1,500 SGD:
    • Sender name
    • Sender sending address
    • Recipient name
    • Recipient receiving address
    • Sender’s date and place of birth (individuals) or company incorporation/registration date (corporate customers)
All information is encrypted and transmitted only between regulated institutions.

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Travel Rule workflow in Cobo Portal

When submitting Travel Rule information, you need to first select the counterparty wallet type and then provide the required name, address, and related details. Wallet types:
  • Self-custody wallet
  • Wallet managed by exchanges or Virtual Asset Service Providers (VASPs)
If you select a self-custody wallet, MAS requires that you connect your wallet and verify ownership through a signature. select wallet type
  • Receiving transactions (deposits) When you receive a transaction, you will need to provide the required Travel Rule information in the corresponding transaction record within Cobo Portal. The transaction will proceed only after the information is submitted. send
  • Initiating transactions (withdrawals) When initiating a transfer, you must provide the required Travel Rule information at submission. The transaction will continue processing only after the information is completed. send
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