FEATURES AND ADVICE
prnewswire | April 25, 2023
Notabene has published its second comprehensive State of Crypto Travel Rule Compliance Report, which provides insightful results from their 2023 global Travel Rule compliance survey. This report follows the successful inaugural report, which provided the industry's first-ever comprehensive analysis of Travel Rule compliance.
"This year's report highlights that Travel Rule compliance is becoming increasingly global, with nearly a quarter (23%) of the surveyed companies needing to comply with Travel Rule requirements in more than one jurisdiction. These findings suggest that the Travel Rule is becoming more global in nature, underscoring the need for a solution to the common cross-border challenges posed by the Travel Rule," says CEO Pelle Braendgaard.
The State of Travel Rule report includes survey results from financial institutions and crypto companies worldwide on how prepared they are for upcoming regulatory deadlines. Sixty-nine companies completed the survey, representing broad global coverage.
The report includes real-world feedback on differences in Travel Rule adoption across jurisdictions, approaches to implementation, components of compliance, and summarizes adoption pitfalls. Key findings show that 84% of companies are already complying or plan to by the end of 2023, and 75% of respondents impose some restrictions on transactions with self-hosted wallets. The report also found that of those who comply, 37.5% perform the travel rule post-transaction, not fulfilling today's FATF requirements.
"Our global and diverse respondents have reinforced the global nature and the various levels of Travel Rule compliance." says Lana Schwartzman, Head of Regulatory and Compliance at Notabene. "VASPs are asking for a unified and interoperable global approach for reaching their counterparties and transmitting Travel Rule messages. As a result, regulators must work together with industry to develop a unified approach to Travel Rule compliance that addresses the needs of the entire industry. We are already seeing this in the EU and UK and hope other regions will follow."
This year's report includes a comprehensive illustration of the current global state of Travel Rule adoption, showcasing key information regarding jurisdictional enforcement, including information on the enforcement status of each jurisdiction, as well as the threshold amount and self-hosted wallet obligations. This information is crucial for businesses seeking to comply with the Travel Rule.
About Notabene
Notabene is crypto's only pre-transaction decision making platform. We enable customers to identify and stop high-risk activity before it occurs.
Notabene's SafeTransact platform helps financial institutions and crypto businesses unlock their full potential in the digital economy. With a focus on security, privacy, and end-user experience, Notabene customers can use our multi-source data and software to automate real-time decision-making, perform counterparty sanctions screening, identify self-hosted wallets, and complete the smooth roll out of Travel Rule compliance, all in line with global and local regulations.
Notabene is SOC-2 security certified since 2021. Over 85 companies leverage our software to manage real-time regulatory and counterparty risk in virtual asset transactions, including Copper, Luno, Crypto.com and Bitstamp. Headquartered in New York, Notabene is a global company with presence in Switzerland, Singapore, and the United Kingdom.
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TRAVEL TECHNOLOGY
TravelCenters of America | March 17, 2023
TravelCenters of America Inc., nationwide operator and franchisor of the TA, Petro Stopping Centers and TA Express travel center network, announced today exciting updates to its full-service restaurant business.
Chef Maira Isabel now serves as TA’s Corporate Executive Chef, and will focus on adding flavorful, healthy offerings and integrating food trends and regional specialties into the menus of TA’s Country Pride and Iron Skillet restaurants. Before moving to the US, Chef Maira was a chef and on-air talent for multiple television shows for many years and was the Puerto Rico hostess of Bizarre Foods – Travel Channel. Her career has spanned TV, print and online publications including the Cooking Network, Travel Channel and Food & Beverage Magazine and she is a best-selling cookbook author. She has spent time perfecting her culinary skills in Italy, France, Colombia, Spain, Mexico and Morocco.
With over 150 full-service restaurants nationwide, TA continues expanding its portfolio to serve the needs of all travelers. In addition to proprietary brands Country Pride and Iron Skillet, TA launched Fork & Compass in January 2023 in Perrysburg, Ohio. Fork & Compass is designed to be an attractive option for all travelers and a destination spot for the community, with unique food options in a casual, comfortable, family-friendly atmosphere. TA also added five IHOPs and two Black Bear Diners in 2022, with plans to open more full-service restaurants this year.
TA will continue supporting the health and well-being of all travelers through its collaboration with Cleveland Clinic. Chef Maira’s menus will offer healthy meal options approved by Cleveland Clinic and highlighted with a heart-healthy logo. TA plans to expand beyond these menu offerings by working with Cleveland Clinic to identify healthy snack and grab-and-go food options in its travel stores.
“Chef Maira’s diverse background working in restaurants around the world, coupled with her sincere passion and enthusiasm, will elevate the sit-down dining experience at our travel centers,” said Lloyd Sanford, SVP, Hospitality. “Every culinary decision will be focused on ensuring we deliver on our mission of returning every traveler to the road better than they came.”
About TravelCenters of America
TravelCenters of America Inc. is the nation's largest publicly traded full-service travel center network. Founded in 1972 and headquartered in Westlake, Ohio, its over 18,000 team members serve guests in 285 locations in 44 states, principally under the TA®, Petro Stopping Centers and TA Express® brands. Offerings include diesel and gasoline fuel, truck maintenance and repair, full-service and quick-service restaurants, travel stores, car and truck parking and other services dedicated to providing great experiences for its guests. TA is committed to sustainability, with its specialized business unit, eTA, focused on sustainable energy options for professional drivers and motorists. TA operates over 600 full-service and quick-service restaurants and nine proprietary brands, including Iron Skillet® and Country Pride.
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AIRLINES AND AIRPORTS
World Travel & Tourism Council | March 14, 2023
World Travel & Tourism Council (WTTC), a travel arrangement services company, has recently announced the Hotel Sustainability Basics (Basics) at ITB Berlin. Basics help tourist accommodation providers with their sustainability journey.
Basics is a set of globally accepted criteria that hotels should implement at least to generate a responsible and sustainable business in Travel & Tourism. The industry supports it and compiles all tourist accommodation providers, regardless of their size and location. A group of influential global hotel brands came together to demand it. It emphasizes a possible starting point over other sustainability initiatives. It will inspire accommodation providers worldwide to start their sustainability journeys and fulfill the fundamental standards of the sector.
It compromises 12 essential criteria and is available to all hotels. This endeavor aims to build a strong base for complex sustainability schemes and enhance sustainability across the industry. It got recognition from the Sustainable Hospitality Alliance as a starting point for the net positive industry. This alliance is the one that announced the latest version of the 'Pathway to Net Positive Hospitality.' WTTC has partnered with Green Key and SGS to design an online verification system to ensure the program's validity.
President & CEO of WTTC, Julia Simpson said, "We are incredibly proud to launch our Hotel Sustainability Basics and its verification scheme. The initiative is a response to the sector's need for a baseline for hotels and other tourist lodgings to introduce the exacting sustainability standards." She added, "Our research shows that most business owners are aware of their responsibility to the environment but need a step-by-step guide that is scientifically verifiable. It is a testament to the need for such a scheme that already thousands of hotel properties from around the world have committed to implement Basics, and from today can begin the verification process."
(Source – Cision PR Newswire)
About World Travel & Tourism Council
Headquartered in London, United Kingdom, World Travel & Tourism Council (WTTC) is a non-profitable and non-government organization dedicated to travel and tourism, founded in 1990. It specializes in the authority on world travel & tourism, travel, tourism, research, economics, private sector, government policies, economic impact, Covid-19 recovery, sustainability, and crisis preparedness. It represents the travel & tourism private sector at a global level. It connects industry experts, CEOs of travel & tourism companies and organizations worldwide. Its focuses on Security & Travel Facilitation, Crisis Preparedness & Management, and Sustainable Growth in the travel field.
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