Travel Rule: Frequently Asked Questions

Modified on Thu, 16 Apr at 4:44 PM

The Travel Rule is a key regulation in the cryptocurrency world that impacts your transfers. Here we answer the most frequently asked questions so you can understand how this regulation affects you.

What is the Travel Rule?

The Travel Rule is a regulation that requires fund transfers, including crypto assets, to include information about the originator and beneficiary to prevent money laundering and terrorist financing. Since 2024, this regulation also applies to crypto asset service providers like us.

Why is Bit2Me requesting more information now?

As of December 30, 2024, legislation imposes the obligation to collect and verify information about the crypto asset transfers you make, whether to or from other platforms or self-custodied wallets.

How does the Travel Rule affect the use of Bit2Me?

The use of Bit2Me to buy, sell, or exchange crypto assets has not changed. The regulation only affects crypto asset transfers. When performing these transactions, we request additional information about the originator and recipient, including those from external platforms and self-custodied wallets. This step is necessary to comply with the regulation and ensure the security of transactions.

Don't worry, the implementation of the Travel Rule has not affected your ability to send or receive crypto assets, nor the networks supported by Bit2Me.

Information for other exchanges:

Exchanges that need to send Travel Rule information to Bit2Me must do so through an appropriate channel for data processing. Information sent through other means may not be processed. To obtain available protocols or send data directly (not recommended option), you can contact us via travelrule@bit2me.com or reach out to our support team. Please do not use this address for matters unrelated to Travel Rule interoperability between exchanges, as you will not receive a response.