# Policy Engine v2: Step-up approvals and Travel Rule

Policy Engine v2 adds typed policy rules. Besides setting limits, a policy rule can now hold large transactions for named approvers, or require a Travel Rule exchange before a transfer settles.

Preview
These features are available only in organizations where Ripple has turned on Policy Engine v2 and the feature itself. To turn them on, contact your Ripple representative.

## What's new

- **Typed policy rules.** Each rule has a kind: `LIMIT`, `APPROVAL`, or `TRAVEL_RULE`. A new wallet-level policy rules API creates, lists, and deletes rules of every kind, and uses the new `policy:create`, `policy:read`, and `policy:delete` permissions. See [Policy rules (Policy Engine v2)](/products/wallet/user-interface/policies/policy-rules-v2).
- **Step-up approvals.** For transactions of more than an amount, require named approvers, a required count, and a timeout. You set step-up approvals for each wallet and asset, and you can create several tiers. The highest tier that applies wins, and replaces the wallet's usual approval group for that transaction. See [Step-up approvals](/products/wallet/user-interface/policies/step-up-approvals).
- **Travel Rule with Notabene.** Connect your own Notabene account, and then use Travel Rule rules to hold outbound transfers until the exchange with the beneficiary VASP reaches the release level you choose. Inbound rules freeze deposits that arrive without an accepted Travel Rule message. Wallet-as-a-Service releases those deposits when your compliance team accepts the message. See [Travel Rule overview](/products/wallet/user-interface/travel-rule/travel-rule-overview).


## What's not changing

- Your existing wallet limits keep working, and appear as `LIMIT` rules in the policy rules API.
- The existing `/policy-rules/limits` endpoints and `keylimit:*` permissions keep working.
- Wallets still need a limit to send an asset. Step-up approval and Travel Rule rules don't let a wallet send on their own.


## Related changes

- [Policy Engine v2: transaction status changes](/products/wallet/changelogs/policy-engine-v2-transaction-status-changes)