DeZwarteRidder schreef op 7 april 2025 17:35:
Bitstamp:
To comply with the MiCA regulation and its Travel Rule requirements, we’re soon introducing new requirements for crypto withdrawals and deposits. Now, let’s take a closer look at what this means for your crypto experience.
What is the Travel Rule in crypto?
The Travel Rule is a regulatory standard under MiCA that requires Crypto Asset Service Providers (CASPs) like Bitstamp to collect and share sender and recipient information for certain crypto transactions involving EU citizens. These updates will ensure greater transparency and regulatory alignment while maintaining the great service you expect from Bitstamp.
What’s changing?
Every crypto transfer will require at least one new step, or two in some cases.
(1) Provide counterparty information (required for all withdrawals and deposits)
(2) Verify ownership for your self-custody wallets (only for withdrawals and deposits over €1,000)
NOTE: You’ll only need to complete these steps just once for each wallet address.
Detailed overview of the changes
If withdrawing to or depositing from a self-custody wallet
A self-custody wallet is one that you control directly, meaning you hold the private keys (e.g., hardware or mobile wallets). These are the key changes to the transfer process:
For all transfers - You must provide counterparty details and confirm the wallet type as self-custody.
For transfers over €1,000 to your wallet – You’ll need to verify that you own the wallet before completing the transaction with a liveness check.
For transfers over €1,000 to and from third-party self-custody wallet – These will be temporarily unsupported while we refine a verification solution.
If withdrawing to or depositing from an exchange wallet
For all transfers - You must provide counterparty details and select the exchange from a dropdown menu.
For deposits - We will attempt to gather the required information automatically before requesting additional details from you.
What to do at the moment?
Nothing at all, we’ve prepared everything at the backend, and we’ll let you know when the Travel Rule goes into effect.
For specific questions, check out the Travel Rule FAQ or contact us at
support@bitstamp.net.
Thank you for your trust and for choosing Bitstamp.
The Bitstamp team
If there’s anything we can help you with, please contact us at
support@bitstamp.net.