Travel Rule: Frequently asked questions

The Travel Rule is a key regulation in the world of cryptocurrencies that affects your crypto asset transfers. In this article, we answer the most frequently asked questions to help you understand how this regulation impacts 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 the beneficiary, with the aim of preventing money laundering and terrorist financing. Since 2024, this regulation also applies to crypto asset service providers, such as Bit2Me.

Why is Bit2Me requesting more information now?

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

How does the Travel Rule affect using Bit2Me?

The use of Bit2Me for buying, selling, or exchanging crypto assets has not changed. The regulation only affects crypto asset transfers: when performing them, we request additional information about the originator and the recipient, including those using external platforms or self-hosted wallets. This step is necessary to comply with the regulation and ensure transaction security.

Don't worry: the application of the Travel Rule does not affect your ability to send or receive crypto assets, nor does it impact the networks supported by Bit2Me.

• This information is intended for other exchanges, not for individual Bit2Me users.
• Exchanges needing to send Travel Rule information to Bit2Me must do so through an appropriate data handling channel; information sent by other means may not be processed.
• To learn about available protocols or to send data directly (not recommended option), you can write to travelrule@bit2me.com or contact the Bit2Me support team. This address should not be used for matters unrelated to Travel Rule interoperability between exchanges, as no response will be provided.