Did you think that the “travel rule” has something to do with taking off your shoes at airport security?
Well, no. It is, according to the Wall Street Journal, a rule of the “Financial Action Task Force, require cryptocurrency exchanges, some digital wallet providers and other firms to send customer data—including names and account numbers—to institutions receiving transfers of digital funds [over $1,000], similar to a wire transfer at a bank.”
If you want to trade cryptocurrencies anonymously, although crypto exchanges had to start complying with the rule in June, the industry that has touted transactional privacy has not yet figured out just HOW to comply.
So, for now, it’s likely that your transaction can’t be tracked.
While a majority of the industry is working to comply, others complain that the rule will just drive bad actors further underground, that it will be too costly for startups and it’s not part of the crypto (ie, secret) model.
But, that of course, is the point of the rule.