The Travel Rule is a global regulatory initiative originally recommended by the Financial Action Task Force (FATF). It aligns information-sharing requirements for virtual asset transfers with the transparent safety standards long used in traditional banking.
In the UAE, the Travel Rule is legally mandated under Federal Decree-Law No. (10) of 2025 and Cabinet Decision No. (134) of 2025.
How Does This Impact CoinCorner Users?
When you initiate a Bitcoin (BTC) deposit or withdrawal, our system automatically detects behind the scenes whether you are transacting with a regulated platform or a private, self-custodial wallet.
Transfers to or from Another Regulated VASP (Exchange)
If you are moving funds to another virtual asset exchange or custodial provider, the following process is undertaken:
- When making a withdrawal you will be prompted on-screen to provide the recipient's full legal name (individual or business).
- This data is immediately and securely transmitted to the receiving platform.
- Under the relevant legislation, the counterparty VASP must be appropriately regulated in its jurisdiction. Transactions directed to unregulated platforms or those presenting a clear mismatch in verified user names will fail and be returned to protect your funds.
Transfers to or from Unhosted (Private / Cold Storage) Wallets
CoinCorner also has legal obligations to collect certain information on transactions to or from unhosted wallets.
- For all transfers involving an unhosted wallet, we must collect from our customer the name and residential address of the originator, as well as the name of the beneficiary.
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