The Travel Rule

BTS PRO X

The “Travel Rule” is a global anti-money-laundering standard set by the Financial Action Task Force. It requires that when a customer sends funds from one regulated financial business to another, certain identifying information about the sender and the recipient travels alongside the transfer, so that the receiving business knows who sent the money and on whose behalf it is being received.

It has applied to bank wires for years. As crypto has become regulated, the same expectation has been extended to transfers between crypto businesses — known as Virtual Asset Service Providers, or VASPs.

Current status: we do not yet send or receive Travel Rule messages. Our platform does not currently exchange sender or recipient identity information with other crypto businesses when you withdraw or deposit. We are describing this openly rather than implying a capability we have not built.

What information the rule covers

Where the Travel Rule applies, the information that typically has to accompany a transfer is:

The sender's name.
The sender's account number or wallet address used for the transfer.
The sender's address, national identity number, customer identification number, or date and place of birth — depending on the jurisdiction.
The recipient's name.
The recipient's account number or wallet address.

This information passes between the two regulated businesses. It does not travel on the blockchain itself and it is not published publicly.

What we actually do today

When you make a crypto withdrawal on this platform right now, we record:

The asset, network, amount, fee and net amount.
The destination address, and the memo or tag where the network requires one.
The status of the transfer and, once broadcast, its transaction ID.

That record is held by us, for our own compliance and support purposes. We do not currently transmit your name or other identifying details to the business receiving the funds, and we do not receive them from businesses sending funds to you. We also do not currently ask you who owns the destination address.

Separately from the Travel Rule, identity verification (KYC) already applies to your account before funding features are unlocked. That is our own onboarding requirement — it is not the same thing as Travel Rule messaging, and one does not substitute for the other.

What will change for you when we implement it

When Travel Rule messaging is in place, the practical differences you should expect are:

You may be asked who owns the destination address — whether the withdrawal is to your own wallet, to another person, and which platform it is held at.
Some withdrawals may take longer, because the receiving business has to accept the accompanying information before funds are released.
Some transfers may be declined — for example, to a business that cannot receive the required information, or where the details you provide do not match.
Incoming deposits may carry sender information that we are required to keep.
Thresholds may apply, so that transfers below a set value carry less information than those above it.

How your information is handled

Any information shared under the Travel Rule would be shared only with the regulated business on the other side of the transfer, and only to the extent required. It would be handled under our Privacy Policy, which covers what we collect, how long we keep it and the rights you have over it.

⚠ PLACEHOLDER — replace with reviewed legal copy before launch. The jurisdictions this applies in, the value thresholds, and the retention periods must be confirmed against our licence conditions before this page is treated as a statement of compliance.

If someone contacts you claiming a transfer is being held for a “Travel Rule fee” or a “compliance release payment”, it is not us — we never ask for a payment to release a withdrawal. You can check whether a website, email address or phone number is genuinely ours on our verification page.