IMPORTANT UPDATE
What You Need to Know About the Travel Rule
As part of global efforts to combat money laundering and enhance the
transparency of crypto transactions, the Travel Rule has officially come
into effect in South Africa as of 29 April 2025.
transparency of crypto transactions, the Travel Rule has officially come
into effect in South Africa as of 29 April 2025.
The Travel Rule requires all crypto asset service providers (like HODL
OTC) to collect and share certain information about both the sender
and receiver when processing crypto withdrawals — especially when assets are
being sent to or received from another service provider (like an exchange or
wallet provider).
OTC) to collect and share certain information about both the sender
and receiver when processing crypto withdrawals — especially when assets are
being sent to or received from another service provider (like an exchange or
wallet provider).
What Does This Mean for You?
When making a crypto withdrawal, you will now need to provide a few
extra details before we can process your transaction. These requirements
apply whether you are sending crypto to your own wallet or to someone else’s.
extra details before we can process your transaction. These requirements
apply whether you are sending crypto to your own wallet or to someone else’s.
The information you will need to provide:
– The type of recipient (individual or corporate);
– The recipient’s full legal name / name of the organisation;
– Asset wallet withdrawal address.
Please note: If you are withdrawing to your own self-custody
wallet (like Exodus, MetaMask, Trust Wallet, Ledger, etc.), you’ll simply
need to confirm that it is your own wallet address.
wallet (like Exodus, MetaMask, Trust Wallet, Ledger, etc.), you’ll simply
need to confirm that it is your own wallet address.
Why is this important?
These requirements are part of international regulations aimed at:
– Increasing transparency in crypto transactions
– Reducing financial crime and terrorism financing
– Keeping you and the broader crypto ecosystem safe
We’re here to help
At HODL OTC, we understand that regulatory changes can be
confusing. Our team is ready to assist you through this process and make it as
smooth as possible. If you’re unsure about what to provide or how this affects
your withdrawal, simply reach out to our support team — we’re happy to guide
you.
confusing. Our team is ready to assist you through this process and make it as
smooth as possible. If you’re unsure about what to provide or how this affects
your withdrawal, simply reach out to our support team — we’re happy to guide
you.
Please take the time to familiarise yourself with the Travel
Rule as implemented by the Financial Intelligence Centre (FIC).
Rule as implemented by the Financial Intelligence Centre (FIC).
THANK YOU FOR YOUR CONTINUED TRUST AND CO-OPERATION.
Need Help?
If you have any questions or need assistance, our support team is here to help.
Contact us at:
📧 support@hodlotc.com
https://www.hodlotc.com
📞 0665601607
📞 0665601607
Stay ahead of the curve with HODL OTC—Your trusted partner in crypto trading!
HODL OTC – Your Trusted Crypto Partner!
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