What Is the Travel Rule?
The Travel Rule is an international financial regulation designed to combat money laundering and illicit financial activities. Starting December 30, 2024, crypto service providers in the European Economic Area (EEA) must collect additional transaction details for certain crypto transfers to comply with this rule.
How Does the Travel Rule Affect You?
The Travel Rule applies to all crypto deposits and withdrawals. When transferring funds, you’ll need to specify whether the transaction involves a personal wallet or a crypto exchange account.
Key Requirements:
- Sender and recipient details must match the identity verification information on file with OKX.
- For transactions exceeding €1,000, wallet ownership verification is mandatory (via cryptographic signing or Satoshi testing).
Transferring to/from a Personal Wallet
Withdrawals:
- If sending to a non-personal wallet, provide the recipient’s full name.
- For deposits from another user’s wallet, share the sender’s full name before receiving funds.
Deposits/Withdrawals >€1,000:
- Verify wallet ownership through signature tests or Satoshi testing (sending a small, random amount to a designated address).
Transferring to/from a Crypto Exchange
Withdrawals:
- Select the exchange and provide the recipient’s registered name.
Deposits:
- Share your full name (as registered on OKX) with the sender and confirm your account is under OKX EU.
Supported Exchanges:
Amdax (NL), Binance, Bitget, Bitstamp, Coinbase, Crypto.com, Kraken, Revolut, and others.
👉 View the full list of supported exchanges
Frequently Asked Questions (FAQs)
1. Does the Travel Rule Impact Trading on OKX?
No. It only affects crypto deposits and withdrawals.
2. What Happens If I Don’t Share Required Information?
Transactions may be delayed or rejected. Always provide accurate details to avoid disruptions.
3. What Is a Personal Wallet?
A self-custody wallet (e.g., Ledger, Trezor) controlled by you, not an exchange.
4. Can I Transfer Crypto to/from My Cold Wallet?
Yes, but ownership verification may be required.
5. How Do I Verify a Personal Wallet?
- Cryptographic signing: Link your wallet to OKX and sign a transaction.
- Satoshi testing: Send a small, random amount to a designated address within 90 minutes.
6. What If My Deposit Fails Due to Name Mismatches?
Confirm the sender’s details match your OKX identity verification records. Contact support if unsure.
7. How Do I Access Locked Funds?
Deposits may be held until the sender’s exchange shares Travel Rule data. Ask the exchange to contact OKX with the transaction hash and details.
8. How Can I Check If an Exchange Complies?
Supported exchanges appear in the withdrawal dropdown. If yours isn’t listed, request they contact OKX to establish compliance.
9. What If My Exchange Isn’t Compliant?
Urge them to reach out to OKX’s Travel Rule team. Funds may remain locked until compliance is confirmed.
👉 Need help? Contact OKX support here
Note: OKX adheres to EU regulations, and compliance is mandatory for all EEA transactions. Ensure your exchange partners are prepared to meet these requirements.