What is the Travel Rule?
The Travel Rule is a regulatory requirement aimed at enhancing transparency and preventing money laundering and terrorist financing in the cryptocurrency industry. It requires Virtual Asset Service Providers (VASPs) and/or crypto-asset service providers (CASPs) to share specific information about the sender and recipient of crypto-asset transactions when transferring crypto-assets between VASPs/CASPs. This ensures compliance with global anti-money laundering (AML) standards.
In which cases can crypto-assets be sent after the implementation of the Travel Rule?
To comply with the EU Travel Rule, crypto-assets can only be sent to certain exchanges. Our company is using Notabene to securely share the required transaction details with eligible exchanges.
Additionally, transfers to self-hosted wallets are allowed, but customers may need to verify their ownership of the wallet before completing the transaction.
We will consider expanding the Travel Rule solutions we use in order to improve customer convenience based on the status of other crypto asset exchange operators. This means that our methods for handling crypto asset receiving and sending requests that we support are subject to change.
What should I do if I don’t know the recipient’s information?
- When sending to your own account or wallet: Select "Me" as the "Address Owner" in the destination information.
- When sending to someone else's account or wallet: Select "Not me" as the "Address Owner" in the destination information. Please request the necessary information from the account or wallet holder.
What is the destination country (region/city)?
The country or region where the destination (final) exchange is located. If you do not know the destination country, please contact the destination exchange for clarification.
What happens when I receive cryptocurrency?
When receiving crypto assets on our services, we will review the transaction information. We may contact you by email if we need further information to comply with the new regulations.
The above-mentioned confirmations may take some time, so please ensure you have plenty of time for each receipt. Prompt responses to our communications may also help us in processing the deposits faster.
Our travel rule solutions are bound to evolve to improve the customer experience and by adding other crypto-assets and exchanges. This means that the methods for handling crypto asset transactions requests that we support are subject to change.