The Travel Rule is an international regulatory framework designed to enhance transparency and security in financial transactions. It requires financial institutions and virtual asset service providers (VASPs) to collect and share specific information about the sender and recipient of crypto transactions to prevent illicit activities such as money laundering and terrorist financing.
In Türkiye, the Financial Crimes Investigation Board (MASAK) adopted FATF-aligned Travel-Rule guidelines.
Deposit Confirmation
Under these rules Turkish CASPs must include and, for transfers of 15 000 TRY or more, verify key data such as the sender’s/receiver’s full name, wallet (or transaction) reference and at least one unique identifier (address, TCKN, passport number, etc.) and must reject or return transfers that lack the required details.
In short, any external deposit from another VASP or self-hosted wallet should be verified through the corresponding interface.
To Verify a Deposit:
- Navigate to History → Deposits → your deposit.
- The Verify button will appear automatically if additional data is required for the deposit.
After clicking Verify, you will see two options: deposit from another VASP (exchange, broker, custodial wallet) and self-hosted (non-custodial) wallet.
Deposit from another VASP:
- Select “Received from a VASP”.
- Provide the information, namely:
- Sender’s full legal name (individual or company).
- Sender’s country of residence/registration.
- VASP name.
- Residential address.
- ZIP code.
- Press Submit.
- Wait for the review of your application.
Deposit from a self-hosted wallet:
- Select “Received from a self-hosted wallet.”
- The system launches an AOPP (Address Ownership Proof Protocol) check.
- In your wallet, sign the message generated on the verification interface - no private keys are exposed.
- Paste the signature into the form and click Confirm.
- Once the signature is verified, your deposit will be credited.
Please note: AOPP is an open protocol that proves control of the sending address without revealing any sensitive information.
Also, do not forget that without completing the Travel Rule steps, the deposit will not be credited.
Changes in Withdrawals Interface
Additional information will now be required when making a crypto withdrawal. The following fields must be completed:
- Destination Platform: Specify the platform to which the funds are being sent.
-
Receiver Type: Indicate whether the receiver is an Individual or a Legal Entity.
- If Individual: Provide the receiver’s First Name and Last Name.
- If Legal Entity: Provide the Entity Name and Entity Address.
These fields ensure the required information is captured during the withdrawal process, aligning with compliance standards.
Why These Updates Are Necessary
The Travel Rule is an international standard requiring financial institutions and exchanges to collect and share certain information about the originators and beneficiaries of transactions. These updates ensure that we remain compliant with these regulations, fostering transparency and security across the crypto ecosystem.
Frequently Asked Questions (FAQs)
- What happens if I don’t provide the required information? Without the mandatory details, your withdrawal and deposit request may be delayed or rejected until all necessary fields are completed.
- Do these changes apply to all users? Currently, these updates apply to all users.
- Are these changes applied to all types of withdrawals? No, these changes are applied only to crypto withdrawals. Fiat withdrawals remain unaffected.
Support
In case of any questions related to the functionality of our exchange, you can:
- Leave a request on our website;
- Write to the support email: support@whitebit-tr.com;
- Write to the chat using the button
in the lower right corner of the screen (in the upper right corner of the WhiteBIT TR app, click
).