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.
As of 23 December 2024, we require information on the source blockchain address ("Originator") of a deposit. If a VASP transfers the virtual assets, then we should receive the required information from the VASP. If this is not the case, or if the deposit comes from a private (unhosted) wallet, then we need you to provide the missing information. This can be done (after a deposit has arrived) in the Wallet of your Deribit account, by following these steps:
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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? - If the virtual assets in the source blockchain address belong to you, confirm that you are the Originator. - If the virtual assets belong to someone else, please provide the Originator's full name and Originator's residential/company address.
Starting from 19 December 2024, you can already provide the Originator information for deposits, allowing you to 'whitelist' source blockchain addresses before it becomes mandatory on 23 December 2024.
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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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 person, you will need to provide the beneficiary’s name.
For ERC20 addresses, you only have to add the address once (including the Travel Rule data). We will apply it for each currency.
If a deposit has arrived, this will be credited to (the equity of) your account. However, you can not withdraw the amount 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 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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