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 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 the verification form page. On the first page, you will see transaction details and the first question, “Is this your own wallet?”. Select the required option, then you can continue the process on the current device or on your phone.

Next, you will see the “confirm sender details” page. 

If funds come from VASP (crypto platforms):

• Select the counterparty type (individual or company).
• Do not click the “unhosted wallet” box.
• Select your VASP from the dropdown list.
• Choose the sender’s country.
• Write the full name and address of the sender in the required sections.
• Wait for the review of your application.

If funds come from an unhosted wallet:

• Select the counterparty type (individual or company).
• Click on the “unhosted wallet” checkbox. 
• Choose the sender’s country, write the full name and address in the required sections.
• Continue and write your wallet address. Then connect your wallet via QR code or sign in to your wallet to start AOPP. 
• 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:

1. Destination Platform: Specify the platform to which the funds are being sent.
2. 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.

Lastly, for all cryptocurrency transfers, you must clearly state the nature of the transaction. This means that a minimum 20-character description is required for each withdrawal.

Features of verification in Tron, Solana networks

In the Tron and Solana networks, verification of withdrawals/deposits is somewhat more complicated, as there is no automatic request for a signature, as in Ethereum. The process looks like this:

1. Enter the address. On the verification page, you need to insert the address of the wallet you plan to verify.

2. Sign the message manually.

Tron (via TronScan):

• Go to TronScan
• Click on Connect Wallet (mobile devices may have difficulties; in many cases, using TronLink helps).
• Select: More → Sign & Verify
• Next: V2 → Sign Message
• Paste the message from the verification portal (AOPP) and click Sign Message
• After that, we get a signature, but:

This signature is not in Base64, so you need to convert it on a third-party website.

Solana (via SolScan):

The process is similar, but other services are used, such as SolScan or Phantom Wallet.

After converting the signature to Base64 format, you need to paste it into the appropriate field on the verification site and click Add Proof.

Please note: the platform is not responsible for failed verification attempts, as these processes depend on third-party services and wallets.

Not all networks have the ability to verify a Web3 wallet (for example, Polygon, Whitechain). In this case, you should specify the name of the wallet in the VASP field.

For each network, you need to verify the wallet again. If you received a deposit in the Polygon network, verified your wallet, and then received a deposit in Ethereum, you will have to verify it again.

To confirm the deposit, you will need to provide the following information:

• Sender's first name
• Surname of the sender
• Name of the platform from which the funds were sent
• Country of residence of the sender.

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)

1. 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.
2. Do these changes apply to all users? Currently, these updates apply to all users.
3. Are these changes applied to all types of deposits and withdrawals? No, these changes are applied only to crypto deposits and withdrawals. Fiat deposits and 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 ).