What is the Travel Rule in Crypto?

The Travel Rule requires VASPs and crypto payment gateways to collect and transmit the identity of both sender and recipient alongside cryptocurrency transfers exceeding jurisdictional thresholds. The EU applies it to all CASP-to-CASP transfers regardless of amount; the US applies it above $3,000. Gateways exchange this data with counterparty VASPs through messaging protocols like TRISA or TRP.