What is the Travel Rule?
In short
The Travel Rule requires sender and recipient information for crypto transfers involving a provider in the EU, with the aim of combating money laundering.
Why does the exchange ask you who owns the wallet you’re sending your crypto to?
Think of a bank wire transfer: along with the amount, there are details about who is sending and who is receiving. Likewise, for crypto transfers between providers, the Travel Rule requires specific information to be exchanged, such as names, wallet addresses or account numbers and additional identifying details about the sender.
The information can be transmitted through a separate, secure channel. Personal data doesn’t need to be published on the blockchain. The related obligations fall mainly on crypto-asset service providers (CASPs), such as exchanges, but you as a user may need to provide information.
Why it matters
The rule covers transfers when the sender’s or the recipient’s provider, or an intermediary provider, is based in the EU. If you transfer crypto from one exchange to another, you may be asked who the beneficiary of the destination account is.
There’s no general exemption for amounts under €1,000. The information requirements apply regardless of the transfer’s value. If details are missing, the provider may delay making the crypto available, ask for clarification, or reject or return the transfer.
What to watch out for
For a transfer of more than €1,000 to or from a self-hosted wallet address, the provider must also take appropriate measures to assess whether the address is owned or controlled by its customer. For example, on a €1,500 withdrawal to your own wallet, it may ask for proof of control.
We insist on the distinction: the Travel Rule doesn’t ban self-custody. Simply holding crypto in a personal wallet doesn’t trigger the rule. A direct transfer between individuals without a provider involved falls outside its scope, although that doesn’t cancel out other obligations.
In Greece
The legal basis is Regulation (EU) 2023/1113, which has applied directly in Greece as well since December 30, 2024. It’s separate from MiCA, which regulates the crypto market and crypto services more broadly.
The Travel Rule is neither a tax nor a tax return. Its application doesn’t mean every transfer is automatically reported to the authorities. Tax obligations are dealt with separately, and complying with it doesn’t replace any tax filings you may be required to make.