From the sounds of it the travel rule is applicable to all exchanges. I don't know what the case is if they don't play by the rules from regulators. I do know however that Ciphertrace is working to create a privacy enhanced compliance to adhere to this rule https://ciphertrace.com/ciphertrace-and-shyft-partner-to-address-the-new-fatf-virtual-currency-travel-rule/