travel rule

Human Rights in Finance.EU initiates annulment procedure for the Funds Travel Rule (Reg 2023/1113) with a request for legal assistance

On September 4, 2023, HRIF.EU submitted the documents that mark the beginning of a cancellation procedure at the General Court of the European Union. The foundation aims to cancel a regulation that requires the unnecessary disclosure of private data in payment transactions and future crypto-asset transfers. The first step in this annulment action was made possible with the support of … Read more

Human Rights in Finance.EU calls upon European Banking Authority to do a human rights audit on all their guidelines

Over the past few months, the European Banking Authority has conducted a consultation regarding guidelines related to the assessment of risk factors associated with crypto-assets. What should one pay attention to in such a case? We took a brief look at the consultation and responded that the term “human rights” is not mentioned. Privacy is only discussed in terms of … Read more

HRIF.EU urges Revolut to refrain from applying the Travel rule per September 1, 2023

Today, we were informed that Revolut will be implementing the Travel rule for crypto per September the first. This announcement is thus of great concern to us. We have immediately asked for clarification on the ‘regulations’ that would be applicable. Regulation 2023/1113 is applicable only per 30 december 2024, so we fail to understand why before that date there could … Read more

HRIF.EU Calls on the United Kingdom to Halt the ‘Travel Rule’ for Both Cryptocurrency and Regular Transfers

In the United Kingdom, a highly disputed obligation will come into effect next week for businesses engaged in cryptocurrency-related transfers and trading. They will be required, under the so-called Travel Rule for crypto, to transmit a substantial amount of individual customer data to recipients in various countries, with no discernible added value. To prevent the infringement on these fundamental rights, … Read more

Human Rights in Finance.EU proceeding with foundation and EU annulment proceedings

On August 24th, after a long preparation and run-up Simon Lelieveldt and Jacob Boersma established HRIF.EU as a formal foundation and legal entity under Dutch law. Why? Well, everyone is familiar with the phenomenon in their own environment. Your bank account gets blocked. Afterwards, you’re asked to provide various pieces of information within very short deadlines. If you don’t comply, … Read more

Appeal to Dutch Finance Ministry: please initiate an annulment procedure for the EU Travel Rule regulation to protect the human rights in Europe!

This morning, the founder of the Foundation Human Rights in Finance.EU, Simon Lelieveldt, sent the following message to (the staff of) Minister Kaag of Finance. “With gratitude for the granted additional time to respond, I hereby send my response to the consultation Implementation Act VO (2023/1113) on money transfers and transfers of crypto assets, along with related information.” In this … Read more