Regulatory Alerts2026-08-12
Added
Guidance Note On Travel Rule Compliance For Digital Asset Businesses
The Securities Commission of The Bahamas clarifies that registrants under the Digital Assets and Registered Exchanges Act must transmit originator and beneficiary information for digital asset transfers valued at USD/EUR 1,000 or more, with wallet addresses serving as account identifiers. Transfers must be executed immediately and securely, prohibiting the use of deferred or on-request transmission models, while requiring registrants to screen for sanctions and conduct risk assessments for unhosted wallets. The guidance mandates a five-year retention period for all related records and requires quarterly compliance reporting via Form TRR-1.