Travel Rule FAQ (EEA region)

The Travel Rule is an international regulation designed to prevent financial crime. Starting 30 December 2024, we’ll need to collect additional information for certain crypto transactions for customers in the European Economic Area (EEA) region.

How does the Travel Rule affect me?

The Travel Rule applies to all crypto deposits and withdrawals.

When you make a withdrawal or receive a deposit, you’ll need to specify whether the transfer involves a private wallet or a crypto exchange account.

Note: to ensure the process goes smoothly, make sure the sender’s information matches your identity verification details on our platform.

Select the channel that the transaction will be transferred to

• Private Wallets

  • If you’re withdrawing to a wallet that’s not yours, you’ll need to provide the recipient’s full name.

  • Similarly, when receiving a deposit from someone else’s wallet, you’ll need to provide the sender’s full name before receiving the funds. Additional information may be required in some cases.

  • For withdrawals and deposits over €1,000, we’ll need to verify ownership of the private wallet. This can be done through a signature test or a Satoshi test.

• Exchanges

  • If you’re sending crypto to someone on another exchange, just select the exchange and provide the recipient’s name as it’s registered on their exchange account.

    

    Recipient's full name is needed as part of the withdrawal verification

  • If you’re receiving funds from another exchange, you’ll need to share your full name (as registered on our platform) with the sender and let them know your account is with OKX EU.

  • The list of supported exchanges is as follows: Amdax (NL), Binance-global, BingX, BIT2ME, Bitget, Bitpanda, Bitstamp Europe S.A., Bitvavo (NL), Boerse Stuttgart Digital Custody, Bybit, CEX.io, Coinhouse, Coinmetro, Copper.co, Crypto.com, eToro, Gate.io, Kraken, MoonPay (UK), OKX, OKX Europe, OKX SG, OKX US, Revolut, WhiteBIT, Young Platform, Zonda.

FAQ

1. Does the Travel Rule change how I trade on OKX?

No, the Travel Rule only affects crypto withdrawals and deposits.

2. What if I choose not to share the required information with OKX?

If you don’t share the necessary details, your transaction may not be processed. Make sure to provide all required information to avoid disruptions.

3. What's a private wallet?

A private (or unhosted) wallet is a self-custody wallet owned and controlled by an individual, not an exchange. This includes hardware or cold storage wallets.

4. Can I transfer crypto to/from my cold wallet?

Yes, but you may need to verify ownership of the wallet.

5. How do I verify my private wallet?

You can verify your private wallet address in two ways:

• Cryptographic signature: connect your private wallet to our platform and sign a transaction to confirm ownership. Learn how to create/import your wallet here.

• Satoshi test: a verification process on our platform that involves sending a random amount of crypto to a designated address within a 90-minute window to confirm ownership. Learn more about the Satoshi test here.

6. What if I receive a crypto deposit from another exchange and encounter a Travel Rule verification failure due to a name mismatch?

You can verify whether the information provided by the sender matches your identity verification details on our platform. Occasionally, errors occur due to incorrect name entries, resulting in verification issues. If you're uncertain about your identity verification name on our platform, please reach out to our customer support for assistance.

7. How can I access funds locked in my account?

Crypto deposits may be locked until the sending exchange or custodian provides the required Travel Rule information, as mandated by the European Union legislation. Contact the exchange and ask them to reach us at travelrule_dd@okx.com with the transaction hash, token, amount, and deposit address. We’ll work directly with the exchange.

Note: this process relies on the exchange meeting the Travel Rule requirements, as we're subject to European Union regulations before we can credit your deposit.

8. How do I know if my exchange or custodian is Travel Rule compliant?

If the exchange appears in the withdrawal drop-down list, we’re already connected through a Travel Rule solution. If not, ask the exchange to reach us at travelrule_dd@okx.com so we can establish a connection. We'll then contact the exchange to request they connect them to our Travel Rule solution.

Note: this process relies on the exchange meeting the Travel Rule requirements, as we're subject to European Union regulations prior to us being able to make them available for you to transact with.

9. What if I sent funds to OKX from a non-Travel Rule compliant exchange?

Contact the exchange and ask them to reach us at travelrule_dd@okx.com with the transaction hash, token, amount, and deposit address. We’ll work with them directly.

Note: this process relies on the exchange meeting the Travel Rule requirements, as we're subject to European Union regulations before we can credit your deposit.

10. What if my exchange isn't listed as an option?

Ask the exchange to reach out to us at travelrule_dd@okx.com so we can request them to connect to our Travel Rule solution.

Note: this process relies on the exchange meeting the Travel Rule requirements, as we're subject to European Union regulations prior to us being able to make them available as an option.