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Got this in my email today, from Bitstamp:
Seems to me like another way for them to spy on their users & as usual, it's "For our own security"
bullshit
We're implementing the Travel Rule for safer transactions
We’re introducing the Travel Rule for our valued customers in the United States, which will take effect on November 6, 2024. This is a necessary step to comply with regulatory standards and to enhance the security of your crypto transactions.
What is the Travel Rule in crypto?
The Travel Rule for crypto requires that certain transactions include additional information about both the beneficiary and the recipient. This regulatory measure is designed to ensure your funds are sent to trusted entities.
You can read more about it in our detailed article in the Bitstamp Learn Center.
How will it affect you?
When you make crypto withdrawals on the Bitstamp web platform or mobile app, you’ll notice a Travel Rule prompt asking for additional recipient details. You only need to provide this information once per address, and it will only take a minute. A similar update will be implemented shortly on our API.
What do we do with the information you provide?
Your privacy is our priority. The details you provide will only be used to ensure your transactions are secure and sent to legitimate entities.
In case you have any questions, our support team is here to help. Feel free to reach out to us at support@bitstamp.net.
We’re introducing the Travel Rule for our valued customers in the United States, which will take effect on November 6, 2024. This is a necessary step to comply with regulatory standards and to enhance the security of your crypto transactions.
What is the Travel Rule in crypto?
The Travel Rule for crypto requires that certain transactions include additional information about both the beneficiary and the recipient. This regulatory measure is designed to ensure your funds are sent to trusted entities.
You can read more about it in our detailed article in the Bitstamp Learn Center.
How will it affect you?
When you make crypto withdrawals on the Bitstamp web platform or mobile app, you’ll notice a Travel Rule prompt asking for additional recipient details. You only need to provide this information once per address, and it will only take a minute. A similar update will be implemented shortly on our API.
What do we do with the information you provide?
Your privacy is our priority. The details you provide will only be used to ensure your transactions are secure and sent to legitimate entities.
In case you have any questions, our support team is here to help. Feel free to reach out to us at support@bitstamp.net.
bullshit