The Council of the European Union has agreed a proposal for a directive compelling all crypto-asset service providers to collect and make accessible full information about the sender and beneficiary of the transfers of virtual or crypto-assets they operate, in a version of the ‘travel rule’ already observed by payment service providers when making conventional wire transfers. The proposed directive modifies a July 2021 European Commission draft, introducing requirements for crypto-asset transfers between crypto-asset service providers and ‘unhosted’ wallets. It will apply regardless of the transaction amount. It will now be negotiated with the European Parliament...