Crypto transfer restrictions are reported in Europe
According to local reports, crypto transfers in Europe are restricted by strict Know-Your-Customer (KYC), as well as blocks and procedures, which could be linked to the Travel Rule.
Hasu, the Flashbots strategist, reported Coinbase has blocked transfers in Europe for recipients other then the user. In addition, when sending cryptos to a wallet that the user is responsible for, they must sign an email to prove ownership.
If the user chooses to receive funds rather than send them, then the sender’s identity must be verified, including a passport. This is true even if you send money from another account to your Coinbase account.
Hasu claims he has not tried to avoid Coinbase requirements. However, he is afraid that his entire Coinbase account could be frozen.
Sam Harper, Argent’s crypto general council member, Also reported The same problem. The message was not able to be signed using his own wallet.
Ignas is the analyst who has been referred to as Ignas Share This Article OKX Europe has the same requirements as Coinbase. James Hunsaker co-founder at Monad Labs The following are some of the ways to get in touch with each other Europe is an unwelcoming place for crypto in these days.
Travel Rule Potentially Behind
Armani Ferrante is the CEO of Backpack The following are some of the ways to get in touch with each other The Travel Rule is the source of these new compliance measures. He said that it is “more common” in some jurisdictions and mandatory.
Jordan Fish is also known as Cobie by the crypto-community. Highlighted Travel Rule: New compliance requirements
The Travel Rule, a set guidelines created by the Financial Action Task Force(FATF), mandates that all financial institutions must share information about the recipient and originator of wire transfer payments and similar types of payment.
Blockchain developer Kris O’Shea also reported When he attempted to deposit USD Coins (USDC) from his MetaMask wallet into his card, he was required to confirm the original recipient.
On Jan. 7, Delphi Labs co-founder José Maria Macedo Share This Article Banco of Investimentos Globais – one of Portugal’s biggest banks – notified its clients of the impending blockage of fiat transfers into crypto platforms.
Macedo’s Report cites compliance with guidelines from the European Central Bank, European Banking Authority and Bank of Portugal regarding the risks of offering digital assets.
