Travel Rule: How crypto withdrawals have changed on EXMO

From now on, certain users will be required to provide additional information when depositing or withdrawing crypto. This is a vital step toward greater transparency and security in the digital asset environment.

What are the Travel Rule?

Travel Rule are an international regulation that requires crypto platforms to transmit specific information about the sender and recipient during a transaction. These requirements already apply to users who have completed identity verification using documents issued in European Union countries.

The goal of the Travel Rule is to prevent financial crimes such as money laundering and terrorism financing by improving oversight of cryptocurrency transfers.

Who is affected by the new requirements?

These updates apply only to users who have completed identity verification using documents issued in EU countries. If you haven’t verified your account with EU documents, these changes do not apply to you.

What’s changed for crypto withdrawals?

When requesting a crypto withdrawal, you’ll now need to fill in the following fields:

▪️recipient type
▪️wallet type (VASP or Unhosted Wallet)
▪️wallet address
▪️recipient’s full name (optional)

These fields are mandatory — withdrawals will not be processed without them.

Wallet type: VASP or Unhosted Wallet?

Before confirming your withdrawal, you’ll need to choose one of two wallet types:

VASP (Virtual Asset Service Provider)

This is a centralized platform that holds users’ assets on their behalf.

Examples: Binance, Coinbase, Kraken, EXMO.

✅ No additional actions are needed — simply complete the withdrawal form with accurate information.

Unhosted Wallet (non-custodial wallet)

This is a wallet where only you hold the private key and have full control over your assets.

Examples: MetaMask, Trust Wallet, Ledger, Exodus.

❗When withdrawing to this type of wallet, an additional verification step is required.

How to verify a non-custodial wallet?

1️⃣ After creating a withdrawal request, you will receive an email with buttons to confirm or cancel the transaction.
2️⃣ If you selected a non-custodial wallet, additional verification will be required.
3️⃣ A link to verify the non-custodial wallet will also be available in the email.
4️⃣ You must verify the wallet to which the funds are being withdrawn using the appropriate method.
5️⃣ Then, follow the confirmation link to complete the withdrawal — the transaction will be processed.

If the wallet is not verified, the confirmation link will remain inactive. However, the cancellation link will always work if you want to cancel the withdrawal.

These requirements are mandated by EU regulators to create a safer crypto ecosystem. As a licensed platform, EXMO is committed to fully complying with all applicable regulations and ensuring a secure, transparent environment for honest users.