diff --git a/documentation/specifications/transactions/onchain/README.md b/documentation/specifications/transactions/onchain/README.md
index 44cb62eb06348..248108d91bd39 100644
--- a/documentation/specifications/transactions/onchain/README.md
+++ b/documentation/specifications/transactions/onchain/README.md
@@ -4,18 +4,7 @@ Diem transactions mutate and create state (or resources) within the set of [on-c
 
 ## Peer to Peer Payments and Transaction Metadata
 
-Most transactions will use the [peer_to_peer_with_metadata script function](https://github.com/aptos-labs/aptos-core/blob/main/aptos-move/framework/script_documentation/script_documentation.md#0x1_PaymentScripts_peer_to_peer_with_metadata). This single transaction represents all current transfers between two participants and distinguishes the types of transfers via the embedded metadata.
-
-The metadata is represented by the following `Rust` enum encoded in [Binary Canonical Serialization (BCS)](https://github.com/diem/bcs):
-
-```
-enum Metadata {
-  Undefined,
-  UnstructuredByteMetadata(Option<Vec<u8>>),
-}
-```
-
-Note: This is the canonical list and should be referred to in future DIPs so that authors need not reproduce the list in future DIPs.
+Most transactions will use the [peer_to_peer_with_metadata script function](https://github.com/aptos-labs/aptos-core/blob/main/aptos-move/framework/script_documentation/script_documentation.md#0x1_PaymentScripts_peer_to_peer_with_metadata). This single transaction represents all current transfers between two participants.
 
 ## Dual Attestation Credentials
 
diff --git a/testsuite/generate-format/src/aptos.rs b/testsuite/generate-format/src/aptos.rs
index 3934f773f94c2..6868849ec51d4 100644
--- a/testsuite/generate-format/src/aptos.rs
+++ b/testsuite/generate-format/src/aptos.rs
@@ -55,7 +55,6 @@ pub fn get_registry() -> Result<Registry> {
     // 2. Trace the main entry point(s) + every enum separately.
     tracer.trace_type::<contract_event::ContractEvent>(&samples)?;
     tracer.trace_type::<language_storage::TypeTag>(&samples)?;
-    tracer.trace_type::<transaction::metadata::Metadata>(&samples)?;
     tracer.trace_type::<transaction::Transaction>(&samples)?;
     tracer.trace_type::<transaction::TransactionArgument>(&samples)?;
     tracer.trace_type::<transaction::VecBytes>(&samples)?;
diff --git a/testsuite/generate-format/tests/staged/aptos.yaml b/testsuite/generate-format/tests/staged/aptos.yaml
index 623f827fc53c1..62d2a1928bb17 100644
--- a/testsuite/generate-format/tests/staged/aptos.yaml
+++ b/testsuite/generate-format/tests/staged/aptos.yaml
@@ -69,14 +69,6 @@ HashValue:
   NEWTYPESTRUCT: BYTES
 Identifier:
   NEWTYPESTRUCT: STR
-Metadata:
-  ENUM:
-    0:
-      Undefined: UNIT
-    1:
-      UnstructuredBytesMetadata:
-        NEWTYPE:
-          TYPENAME: UnstructuredBytesMetadata
 Module:
   STRUCT:
     - code: BYTES
@@ -249,10 +241,6 @@ TypeTag:
       Struct:
         NEWTYPE:
           TYPENAME: StructTag
-UnstructuredBytesMetadata:
-  STRUCT:
-    - metadata:
-        OPTION: BYTES
 VecBytes:
   NEWTYPESTRUCT:
     SEQ: BYTES
diff --git a/types/src/transaction/metadata.rs b/types/src/transaction/metadata.rs
deleted file mode 100644
index fc37072c26065..0000000000000
--- a/types/src/transaction/metadata.rs
+++ /dev/null
@@ -1,24 +0,0 @@
-// Copyright (c) The Diem Core Contributors
-// SPDX-License-Identifier: Apache-2.0
-
-//! This file implements Diem transaction metadata types to allow
-//! easy parsing and introspection into metadata, whether the transaction
-//! is using regular subaddressing, is subject to travel rule or corresponds
-//! to an on-chain payment refund.
-
-use serde::{Deserialize, Serialize};
-
-/// List of all supported metadata types
-#[derive(Clone, Debug, Eq, PartialEq, Serialize, Deserialize)]
-pub enum Metadata {
-    Undefined,
-    UnstructuredBytesMetadata(UnstructuredBytesMetadata),
-}
-
-/// Opaque binary transaction metadata
-#[derive(Clone, Debug, Eq, PartialEq, Serialize, Deserialize)]
-pub struct UnstructuredBytesMetadata {
-    /// Unstructured byte vector metadata
-    #[serde(with = "serde_bytes")]
-    pub metadata: Option<Vec<u8>>,
-}
diff --git a/types/src/transaction/mod.rs b/types/src/transaction/mod.rs
index 55c03726bf646..433d8bbdd9633 100644
--- a/types/src/transaction/mod.rs
+++ b/types/src/transaction/mod.rs
@@ -40,7 +40,6 @@ use std::{
 pub mod authenticator;
 mod change_set;
 pub mod helpers;
-pub mod metadata;
 mod module;
 mod script;
 mod transaction_argument;
diff --git a/types/src/unit_tests/transaction_test.rs b/types/src/unit_tests/transaction_test.rs
index 6b5b1b8e4a02d..26a0eb0a8e546 100644
--- a/types/src/unit_tests/transaction_test.rs
+++ b/types/src/unit_tests/transaction_test.rs
@@ -6,9 +6,8 @@ use crate::{
     account_config::XUS_NAME,
     chain_id::ChainId,
     transaction::{
-        metadata, AccountTransactionsWithProof, RawTransaction, Script, SignedTransaction,
-        Transaction, TransactionInfo, TransactionListWithProof, TransactionPayload,
-        TransactionWithProof,
+        AccountTransactionsWithProof, RawTransaction, Script, SignedTransaction, Transaction,
+        TransactionInfo, TransactionListWithProof, TransactionPayload, TransactionWithProof,
     },
 };
 use aptos_crypto::{