To comply with the Travel Rule, Deribit requires certain information to be shared with other Virtual Asset Service Providers (“VASPs”), such as exchanges. This information is exchanged when you make a deposit or a withdrawal with an equivalent value exceeding 3,500 United Arab Emirates Dirham (approx. 953 USD).
To ensure full compliance, Deribit uses Notabene for seamless and secure data exchange with other VASPs. We use their software to receive and send Travel Rule information from/to counterparty VASPs.
The Travel Rule is a regulatory requirement in the financial industry. It mandates that specific information about the sender and receiver of funds "travels" with the transaction to help trace and prevent illicit financial activities. The Travel Rule aims to:
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Prevent money laundering and financing of illegal activities;
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Enhance transparency of transactions between VASPs;
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Verify the authenticity of transactions.
The Travel Rule was introduced for cryptocurrency transactions in 2019 by the Financial Action Task Force (FATF), the intergovernmental organization that serves as a global watchdog for combating money laundering and terrorism financing.
If the equivalent value of the transaction exceeds AED 3,500, which is approximately USD 953, then Deribit is required to receive/send Travel Rule information alongside your cryptocurrency deposit/withdrawal.
If a deposit has arrived from a new source address and we have not received the required Travel Rule information from the counterparty VASP (if applicable), you are required to provide the Travel Rule information in the Wallet menu yourself. Please take the following into account:
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Missing Info: Navigate to the deposit history in the Wallet menu and click the Missing Info label to provide the required Travel Rule information of the Originator.
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Type of Wallet: Confirm if the source blockchain address is from a private (unhosted) wallet (e.g., Ledger, Metamask) or from a VASP (e.g. an exchange).
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Originator Confirmation: Who is the Originator of the virtual assets? -
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If the virtual assets in the source blockchain address belong to you, confirm that you are the Originator.
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If the virtual assets belong to someone else, please provide the Originator's full name and Originator's residential/company address.
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If a deposit has arrived, this will be credited to (the equity of) your account. However, those funds will be locked and cannot be used for any activity, including withdrawals, transfers, opening new positions, or spot trading, if the Travel Rule information is missing. Therefore, please take the following into account:
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Ensure the Originator's name and residential/company address is correctly spelled. Missing information or Incorrect information may result in a withdrawal lock for the amount deposited.
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You can still send crypto from private wallets (like Ledger or Metamask). However, due to the Travel Rule, you may be required to provide additional information about the Originator.
When adding a new withdrawal address to your Deribit address book, you need to provide the following information in the Withdraw section of the menu Wallet:
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Specify the Type of Wallet: Confirm if the address is from a private (unhosted) wallet (e.g., a personal wallet) or a VASP (e.g., an exchange).
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Provide VASP Website: If the VASP is not listed in our system, enter the VASP’s official website URL along with its name. This information aids in verifying the VASP and ensures compliance with regulatory requirements.
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Beneficiary Confirmation: Indicate whether you are the owner (beneficiary) of the address or if it belongs to someone else. If the address belongs to another individual or entity, you will need to provide the beneficiary’s name and residential/company address.
For ERC20 addresses, you only have to add the address once (including the Travel Rule data). We will apply it for each currency.
When transferring virtual assets from or to another VASP, Deribit will share the following details:
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Transaction |
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Data individual |
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Entity Data (for legal entities) |
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