Guidelines also specify the steps that Virtual Asset Service Providers and intermediaries of virtual asset service providers must take to ensure that all data required by the travel rule is included in the transaction details, and what actions to take if the relevant data is missing from transactions.
The objective of this requirement is to ensure that competent authorities can identify cases of money laundering and terrorist financing based on the transaction data.
Money Laundering and Terrorist Financing Prevention Act mandates that Virtual Asset Service Providers in Estonia comply with the travel rule requirement from March 15, 2022.
