BitOasis Blog

BitOasis Travel Rule Compliance Announcement

Travel Rule BitOasis

At BitOasis, we are committed to providing our customers with a secure and compliant platform for trading and transacting virtual assets. As part of our continuous efforts to meet global and local regulatory standards, we are implementing the Travel Rule across our platform in accordance with applicable international and local regulatory requirements.

What is the Travel Rule?

The Travel Rule is a set of guidelines set by the Financial Action Task Force (FATF) that requires Virtual Asset Service Providers (VASPs), like BitOasis, to collect and share specific information on cryptocurrency transactions above a certain threshold between customers. This rule enhances the transparency of crypto transactions and helps prevent illegal activities such as money laundering and terrorist financing.

How Does the Travel Rule Affect You?

To comply with the Travel Rule, BitOasis may be required to collect and share specific information about the transaction when you send or receive cryptocurrency transactions that exceed a certain threshold. This will include:

The threshold for the Travel Rule varies by jurisdiction. If your transaction crosses this limit, it may be subject to additional review and verification.

What You Need to Know

  1. Transaction Review: If your crypto deposit or withdrawal exceeds the Travel Rule threshold, our compliance team may need to manually review the transaction details you provided to ensure it meets the necessary regulatory requirements. This process may take up to 3 business days.
  2. Information Sharing: For transactions between BitOasis and other VASPs, we may be required to share the relevant transaction details with those providers as part of the assessment process.
  3. Enhanced Security: This measure is designed to safeguard both you and the BitOasis platform by ensuring that all transactions meet the highest standards of security and regulatory compliance.

Data Protection and Privacy

At BitOasis, we prioritize the protection of your personal and transaction data. All information collected for the Travel Rule is handled with the highest level of confidentiality and strictly with applicable data protection and privacy laws. Our commitment to your privacy means that we only use this information for compliance purposes, helping to ensure a secure platform for all users.

Our Commitment to You

We understand that changes like this can raise questions, and we are here to provide full transparency and support throughout this process. BitOasis is committed to:


Frequently Asked Questions (FAQs)

1. Will my transactions always be subject to review?
Transactions exceeding the applicable Travel Rule threshold will be subject to a manual review by our Compliance team to ensure compliance with the guidelines. Transactions below this threshold will not be impacted.

2. How long will the manual review process take?
Our team will aim to complete the review within three business days. You will receive a notification once the process is complete.

3. What information is shared during a transaction?
BitOasis may share sender and receiver information, as well as transaction details, with other VASPs involved in the transaction.

Need Help?

If you have any questions or concerns regarding the Travel Rule and how it affects your transactions, please don’t hesitate to contact our support team at help@bitoasis.net. We are here to assist you at every step.


Disclaimer: The implementation of the Travel Rule is in accordance with applicable laws and regulations. All information provided on this page is subject to updates based on changes to the applicable regulation or guidelines, or updates in our compliance processes. BitOasis does not provide investment or legal advice. Cryptocurrency trading involves substantial risk of loss, extreme volatility, and potential total loss of value. Virtual assets do not offer financial protection, and investors may lose all money invested. It is recommended that you seek independent professional advice to fully understand these risks.

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