Update on Travel Rule on Bitfinex

Further to the announcement about our support for the Travel Rule, Bitfinex announces that starting 29/01/2025, Travel Rule data will be shared when sending cryptocurrencies of $1,000 in value or above to Virtual Asset Service Providers (VASPs) via the API. API withdrawals can be made using this withdrawal endpoint or the V1 option. 

The data includes the amount, asset, transaction hash, blockchain addresses and identification of the originator and beneficiary VASP. 

• For individuals (natural persons) involved in the transaction, the shared data will also include their name, address, government ID number (passport, national ID, or driver’s licence) and date of birth.
• In the case of entities (corporate accounts), information shared includes the entity’s name, address and government ID (tax ID, legal entity identifier, or registration number).

This information will be made available to Third-Party Services that provide Travel Rule compliance solutions, who will, in turn, make that information available to VASPs, such as an exchange, as applicable.

The Travel Rule is a regulatory requirement for cryptocurrency transactions to prevent money laundering and terrorist financing and to enhance the transparency of transactions between VASPs. Any requests that do not provide the required information will be rejected. 

If you or your organisation are currently utilising these endpoints and intend to submit withdrawal requests for cryptocurrency with a value meeting or exceeding $1,000, you should review the API documentation and update your API client code prior to this date to prevent any disruptions. 

For further information about the Travel Rule for API withdrawals, please visit https://docs.bitfinex.com/docs/withdraw-requests-and-the-travel-rule. 

Customers can continue to optionally send travel rule information for withdrawals under $1,000 in value.

More information about the Travel Rule on Bitfinex is available in this Knowledge Base article.