As a registered VASP, Coins.xyz must collect required information to be able to process Virtual Asset (or cryptocurrency) transfers, including transactions associated with a VA (virtual asset) transfer.
What is a VASP?
A Virtual Asset Service Provider (VASP) refers to any entity that offers services or engages in activities that provide facility for the transfer or exchange of VA (Virtual Assets), which involve the conduct of one or more of the following activities:
- Exchange between VAs and FIAT currencies;
- Exchange between one or more forms of VAs;
- Transfer of VAs; and
- Safekeeping and/or administration of VAs or instruments enabling control over VAs
How does this affect me?
To comply with the guidelines implemented for Virtual Asset Service Providers (VASPs) by the Financial Action Task Force (FATF), transfers from VASPs (such as Coins.xyz) equivalent to USD 1,000 and above are required to submit the following information in order to receive the funds:
- Sender’s name,
- Sender’s wallet address,
- Sender's exchange platform, and
- Sender’s address
Privacy Concerns
All information submitted to our platform will be treated with utmost confidentiality and in compliance with data privacy standards.
About the Travel Rule
You may learn more on how the Travel Rule affects external transfers here.
Frequently asked questions
Why haven't I received my incoming crypto transfer/deposit?
1. Blockchain Confirmation Delay. Learn more through this article on when this will reflect in my wallet.
2. Incorrect Wallet Address. You may refer to this guide if you need help in reviewing your wallet address.
3. Unsupported Token. If it is, you may know about our policies here.
4. Unsupported Blockchain Network. You may refer to this page on supported tokens and networks.