A new report from Notabene reveals that 90% of surveyed virtual asset service providers (VASPs) are on track to achieve full compliance with the travel rule for anti-money laundering regulations by mid-2025. All participating institutions have committed to meeting these requirements before year’s end, reflecting a significant shift in regulatory attitudes. The U.S., in particular, has taken a more favorable stance on cryptocurrency regulation, while the European Union’s Funds Transfer Regulation is now active. This has led to an increase in the percentage of VASPs demanding beneficiary information prior to withdrawals, rising from 2.9% in 2024 to 15.4%. Furthermore, approximately 20% of VASPs are issuing refunds for transactions lacking complete information. Despite this accelerated compliance process, Notabene CEO points out that interoperability challenges remain a significant obstacle across different jurisdictions.