Travel Rule FAQ

Under Travel Rule requirements, only certain users will be affected. If you fall

Under Travel Rule requirements, only certain users will be affected. If you fall into this category, you will need to provide the name of the beneficiary party and whether the transfer is going to a private wallet or cryptocurrency exchange account. Additionally, we may require supplementary information to meet the necessary compliance standards. Read through the frequently asked questions to know better about what Travel Rule is in OKX.

The purpose of the Travel Rule implementation at OKX

Checklist

Select the channel that the transaction will be transferred to
Under the Travel Rule, what's the additional information that I will need to provide while performing a withdrawal?
What happens if my withdrawal is rejected due to the Travel Rule?
Under the Travel Rule, why do I need to verify the ownership of a private wallet?
How do I verify my private wallet under the Travel Rule?
Why is my private wallet verification unsuccessful under the Travel Rule?
If I deposit money from another exchange (such as Upbit) to OKX and encounter Travel Rule verification failure due to a name mismatch, what should I do?
What is the additional information that I will need to provide for deposits locked due to the Travel Rule requirement?
Will I still be able to receive crypto from transactions without Travel Rule information?
What happens under the Travel Rule if I don't fill in the originator information for my deposit?
Why is my deposit under Travel Rule review?

Notes

The Travel Rule is an international standard established to combat money laundering and terrorist financing within virtual assets.

It requires virtual asset service providers (VASPs) like OKX to disclose specific customer data for crypto asset transactions of more than a certain amount. By implementing the Travel Rule, we aim to enhance transparency and traceability in virtual asset transactions, similar to the obligations of traditional financial institutions.

The impact of Travel Rule on users

The implementation of Travel Rule measures at OKX will be gradual and primarily affect users in regulated regions. If you belong to the regulated region, when initiating a withdrawal or receiving a deposit transaction, you will be asked to specify whether the transfer is going to a private wallet or cryptocurrency exchange account and provide the legal name of the beneficiary party. Additional supplementary information may also be required.