On 31 August 2023, the Joint Money Laundering Steering Group (JMLSG) published final revisions to Sector 22 (crypto asset providers and custodian wallet providers) in Part II of its Guidance. This includes a new Annex I to Sector 22 relating to cryptoasset transfers.

The new guidance relates to the provisions of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 that implement the Travel Rule for cryptoasset transfers in the UK. The new obligations under Regulations 64A-64H come into effect on 1 September 2023.

The final revisions have been submitted to HM Treasury for Ministerial approval.