Liechtenstein’s Travel Rule by Nägele, CLL and 21 Analytics

In collaboration with Nägele and CLL, we put together a summary of essential facts on Liechtenstein’s Travel Rule.  By leveraging 21 Analytics’ Travel Rule expertise, Nägele’s extensive blockchain and legal knowledge and CLL’s compliance prowess, the document covers everything a TT service provider needs to start their Travel Rule journey in Liechtenstein. 

Blockchain technology opens up many new possibilities for Liechtenstein and has enormous potential. However, we can only truly embrace that potential through a clear regulatory framework. 

Dr Thomas Nägele, Attorney at Law & Managing Partner of Nägele.

Liechtenstein, a thriving crypto hub, was one of the earlier jurisdictions to implement its Travel Rule, which also included self-hosted wallets (TT service providers must conduct enhanced due diligence when dealing with self-hosted wallets). 

Its regulation provides regulatory clarity to crypto businesses, explicitly explaining how to manage the sunrise issue and how to deal with missing data, for example. 

As TT service providers confront the daily hurdles of digitalisation, the demand for skilled personnel, and growing regulatory pressures, the collective efforts of ecosystem players throughout Liechtenstein offer a pathway to alleviate these challenges. 

Dr Siegfried Herzog, Head Compliance CCA & CEO of CLL.

Allow us, along with Nägele and CLL, to assist your cryptocurrency business in smoothly adapting to and complying with these regulations. Contact us today for support.