The Travel Rule

What it is

The Travel Rule comes from Recommendation 16 of the Financial Action Task Force (FATF), the international anti-money-laundering body. Since 2019 it has also applied to crypto exchanges and similar providers: when funds move, the sending provider passes the sender’s and recipient’s details to the receiving one, much as a bank wire carries the sender’s information.

The aim is to make every transfer traceable from source to destination, to prevent money laundering and terrorist financing. Each country writes it into its own law, so exchanges in different regions ask in different ways.

What gets passed along

• Sender: name and account or wallet address. Some regions also require an address, date of birth or ID number.
• Recipient: name and receiving address or account.
• Receiving service: which exchange or provider the address belongs to, or whether it is a personal wallet.

Why the exchange asks you questions

The exchange has to identify the recipient before it can pass the details on. When you withdraw to SleeplessNode, the usual questions are:

1. Whether the address belongs to an exchange or provider, or to your own personal wallet
2. The name of the receiving service
3. Whether you are the recipient, and the recipient’s name
4. The purpose of the transfer

If the answers are incomplete or don’t match what the exchange has on file, the withdrawal may be delayed or returned, and the exchange may ask you for more documents.

Rules differ by region

EU

Since 30 December 2024, every crypto transfer must carry both parties’ details, with no minimum amount. For transfers above €1,000 to a personal wallet, the exchange must also verify who owns the wallet.

UK

In force since September 2023. Exchanges ask much the same questions as in the EU.

US

The threshold is $3,000. Below it you usually won’t see questions, but you may need to confirm by email or wait for a risk review.

Japan

In force since June 2023. Exchanges require you to register the recipient and state the purpose in advance (for example Coincheck’s remittee list, 宛先リスト), and only send to services they support.

Australia

You will be asked on every transfer, and the exchange also checks the receiving service’s registration.

Elsewhere

FATF suggests a threshold of USD or EUR 1,000, and each country sets its own rules on top. Follow your exchange’s prompts.

This is a summary, not legal advice. What applies to you depends on local law and your exchange’s prompts.

What to enter when sending to SleeplessNode

To your exchange, your platform address belongs to a third-party service, not a personal wallet. Enter the details below and confirm the account is yours.

Questions