The Travel Rule questionnaire
Why every withdrawal asks who the funds are going to.
The Travel Rule requires crypto asset service providers to record who is sending and who is receiving a transfer. On Cryolynx it appears as a short questionnaire on the send screen. It is a legal obligation, so it cannot be turned off or skipped.
What you are asked
- Whether the destination is your own wallet or someone else's
- If someone else's — whether the recipient is an individual or a company, and their name
- The company name, where applicable
- Whether the destination is a private wallet or another exchange / virtual asset service provider
- Which provider, if it is one
- A declaration that your answers are accurate
Getting it right
- Answer honestly. Declaring a third-party transfer as your own wallet is a false declaration.
- Give the recipient's name as their provider holds it, not a nickname.
- If you are withdrawing to your own account at another exchange, that is still "another provider" — select it and name the exchange.
Deposits have their own equivalent declaration — see
the deposit source-of-funds questionnaire.
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Related
- How to send crypto to an external wallet Withdraw to an outside address, including the declaration you must complete.
- Withdrawal minimums, maximums and fees Where the numbers on the send screen come from, and why they change.
- Beneficiaries — who receives your crypto Choose who your crypto is paid to if you pass away.
- Why a withdrawal is still pending The stages a withdrawal goes through, and when to raise it with us.
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