Travel Rule Fields for Crypto Sends Guide

The Travel Rule mandates financial institutions, including custodial cryptocurrency exchanges, to share basic customer information when transferring funds exceeding a specific threshold. Requirements vary by region and depend on the Coinbase entity governing the user's service agreement.

Key Travel Rule Fields

👉 Explore VASP lists for institution IDs

Regional Requirements

United States (US)

• Current Status: No mandatory travel_rule_data fields.

Canada (CA)

• Required Field: beneficiary_wallet_type.

• Additional Rules:

  • For transfers ≥ 999 CAD to exchanges (WALLET_TYPE_EXCHANGE), include beneficiary_name and beneficiary_address.

Example:

{
  "beneficiary_wallet_type": "WALLET_TYPE_EXCHANGE",
  "beneficiary_name": "Satoshi Nakamoto",
  "beneficiary_address": {
    "address1": "1 Dr Carlton B Goodlett Pl",
    "city": "San Francisco",
    "state": "CA",
    "postal_code": "94102",
    "country": "US"
  }
}

Great Britain (GB)

• Required Fields: is_self, beneficiary_name, beneficiary_country (via beneficiary_address), and beneficiary_wallet_type.
• For Exchanges: Include beneficiary_financial_institution.

Example:

{
  "is_self": "IS_SELF_TRUE",
  "beneficiary_name": "Satoshi Nakamoto",
  "beneficiary_address": { "country": "US" },
  "beneficiary_wallet_type": "WALLET_TYPE_EXCHANGE",
  "beneficiary_financial_institution": "009BBC11-03FB-4224-8CC7-CCE7CCDE4706"
}

Singapore, Hong Kong, Philippines (SG/HK/PH)

• Required Fields: beneficiary_name, beneficiary_wallet_type, beneficiary_country, and is_self.
• Self-Hosted Wallets: Satoshi Test verification required via Coinbase Mobile App.

Example:

{
  "is_self": "IS_SELF_TRUE",
  "beneficiary_name": "Satoshi Nakamoto",
  "beneficiary_address": { "country": "US" },
  "beneficiary_wallet_type": "WALLET_TYPE_SELF_HOSTED"
}

👉 Learn about VASP compliance

Frequently Asked Questions (FAQ)

1. What is the Travel Rule?

The Travel Rule is a regulatory requirement for financial institutions to share sender/recipient details during crypto transactions above a set threshold.

2. Which countries enforce the Travel Rule?

Countries like the US, Canada, UK, EU members, Singapore, and others mandate specific fields. Unlisted jurisdictions may not require compliance.

3. How do I find my VASP ID?

Refer to official Travel Rule VASP directories or institutional documentation for the correct identifier.

4. Is the Satoshi Test mandatory?

Yes, for self-hosted wallets in regions like Singapore or the EU (for transfers >1000 EURO), ownership verification is required.

5. Can I omit travel_rule_data for small transfers?

In some regions (e.g., US), fields are optional regardless of amount. Check local regulations for thresholds.

6. What happens if I provide incomplete data?

Transactions may be delayed or rejected by the receiving institution for non-compliance.

Summary

• Global Variation: Requirements differ by jurisdiction (e.g., Canada focuses on wallet type; GB mandates VASP IDs).
• Key Fields: Always verify beneficiary_name, wallet_type, and country where applicable.
• Tools: Use Coinbase’s mobile app for wallet verification and VASP lists for institution IDs.

For further details, consult your local regulatory guidelines or institutional policies.