FAQs about the Travel Rule
🌍 What is the Travel Rule?
This article answers common questions about the Travel Rule and how it may affect you as a Coinhako user.
What is the Travel Rule?
Introduced in June 2019 by global regulators, the Travel Rule is designed to prevent money laundering and terrorism financing in the cryptocurrency space.
Under this rule, when cryptocurrency is transferred between two service providers (like crypto exchanges), the sending platform must share basic identity information about the sender and recipient with the receiving platform — securely and immediately.
This rule applies only to licensed platforms like Coinhako, not to private individuals transacting on their own.
How does the Travel Rule affect Coinhako users?
The way you buy, sell, or swap crypto on Coinhako does not change.
When you deposit or withdraw crypto to/from other wallets or exchanges, you’ll need to provide some details depending on the transaction amount and your region.
Thresholds
Singapore users: 1,500 SGD
Global users: 1,000 USD
Required Information
For all transfers (below or above threshold):
Sender or recipient’s full name
Wallet, exchange, or service provider name
For transfers above the threshold:
(If individual) Residential address or ID/Passport number
(If business) Business address or registration number
Note: If you only trade within Coinhako and don’t transfer funds in or out, no action is required.
Does this apply to both deposits and withdrawals?
Yes.
- For deposits, you’ll verify the sender’s information if the amount meets the threshold.
- For withdrawals, you’ll need to provide recipient information — and if the receiving address belongs to someone else and the amount is above the threshold, you’ll be asked for the recipient’s address or ID details as well.
Does Coinhako provide a list of restricted exchanges?
Coinhako does not publish a fixed list of high-risk or sanctioned platforms, as regulatory statuses change frequently.
We recommend staying informed and doing your own research when using external platforms.
How to verify pending deposits?
For deposits in Singapore
Deposits 1,500 SGD or below:
- Go to 'Transaction History', choose 'Wallet'
- Select the deposit marked 'Verification needed'
- Tap 'Verify sender details'
- Specify who made the transfer:
- Choose 'Myself' if you made the transfer
- Choose 'Someone else' if another person sent it
- Enter the Sender's full name and Wallet/Exchange name
Deposits over 1,500 SGD
Follow the same steps, and also provide:
- If the sender is an individual, please provide their residential address or ID/Passport number.
- If the sender is a business entity, please provide their business address or business registration number.
For global users:
Apply the same logic, using 1,000 USD as the threshold instead of 1,500 SGD.
5. How to verify recipient details (for crypto withdrawals)?
You must enter recipient details when adding a new receiving address to your Address Book before making a withdrawal.
6. What if my deposit is rejected?
All transfers are reviewed based on Coinhako's internal policies.
If your deposit is rejected, you may request a refund. Please note that a network fee will apply - this is not charged by Coinhako, but required to process the transaction on the blockchain.
âś… Ready to Go?
Once you've verified your details, you're all set.