Currently, the travel rule contention within the Crypto industry is still not resolved. The Travel Rule is a regulatory requirement officially adopted by the Financial Action Task Force (FATF) in 2019. This Travel Rule extended Anti-Money Laundering and Counter-financing of terrorism (AML/CFT) obligations to crypto-related transactions valued at USD 1000 or more for Virtual Asset Service Providers (VASPs) such as cryptocurrency exchanges and companies providing crypto services. This Travel rule requires the relevant financial institution to pass on some transaction and Ultimate Beneficial Owner (UBO) information to the next financial institution. However, this is a challenge for the VASPs due to the pseudonymity nature of cryptocurrency, where there is limited amount of information that can be transferred. Only until the blockchain technology is prepared to have a bigger data allocation size, it will never be something that can be resolved on chain. And if it is not resolved on chain, there will be a need for an off-chain solution which is a very difficult and cumbersome as participants will need to be involved. Here is one of the off-chain solutions shared by Jonathan from DigiFinex, which DigiFinex applies this methodology to its exchange to demonstrate effective control over un-hosted wallets.  The idea is beneficial control where DigiFinex goes down to the customer level. For example, DigiFinex will send a small amount of cryptocurrency to the customer and would require the customer to send them back inversely. This is where if they can do that then they would effectively demonstrated that they can have beneficial control over the un-hosted wallet address. Megan Li from Regtank believes that there is still a long way to go for the Travel Rule. Although, there are some solutions available in the market, which could help facilitate the exchange of information between different networks. More detailed requirements from regulators related to un-hosted wallet and crypto transactions will be needed. As for now, the reporting guidelines does not explicitly state the reporting details. At an industrial and technical level, if all organisations are willing to work together to build a system to share this information, this could be resolved.