Changes to Cryptocurrency Transfers at the End of the Year – Travel Rule and MiCA Regulation

As we prepare for regulatory changes coming into effect on December 30, 2024, we would like to inform you about potential changes that may affect cryptocurrency transfer processing on our platform. Our goal is to make these changes as seamless and invisible as possible for our customers, with the main impact being on cryptocurrency transfers. These changes will not require any action on your part.

              
Key Changes:
Travel Rule – Only Affects Cryptocurrency Transfers:
The Travel Rule regulation will only affect cryptocurrency transfers. It will not impact euro deposits, withdrawals to your bank account, trading, or the custody of cryptocurrencies on our platform. These services will continue to operate as they have been.
Changes Take Effect at Year-End:
The Travel Rule regulation will come into effect on December 30, 2024. Until that date, cryptocurrency transfers will continue to operate as usual without any changes.
Potential Restrictions Early in the Year:
The introduction of new regulatory processes may temporarily impact the processing of incoming and outgoing cryptocurrency transfers in early 2025. If any temporary restrictions arise, we will provide further details in an upcoming communication.
EU-Level Regulation Applies to All Providers:
The Travel Rule applies to all cryptocurrency service providers (CASPs) operating within the EU. The regulation will be enforced across the EU starting December 30, 2024. Outside the EU, the timeline may vary, but the Travel Rule has already been implemented in some regions.

How Will This Affect You?
Our aim is to make these changes as smooth and invisible as possible for our users. Some cryptocurrency transfers may require additional information, but they will not affect regular trading, custody, or deposits.
What is the Travel Rule?
The Travel Rule is a global regulatory framework established by the Financial Action Task Force (FATF) to combat money laundering and terrorist financing. It requires cryptocurrency service providers to collect and transfer specific information related to cryptocurrency transfers to ensure the legality of the transaction.
For more information about the Travel Rule, you can visit the official FATF website.
Thank you for your understanding and continued trust in our platform.