Travel Rule $1k

[Flyingslotsman]

Does anyone know what information crypto.com require for a withdrawal over £$€1000?

I have a balance of about £1500 in a crypto casino and when you withdraw to crypto.com for anything over the £1k they state they will require further information, I'm not sure what that information is so I'd like to try find out before attempting.

Appreciate any help if anyone's withdrawn over the £1k limit before, thank you.

@pinnit2014 you may be one to help being a fellow scot?

 

[geordiecolin]

Congrats. I would withdraw 800 then when its cleared withdraw 700

 

[Flyingslotsman]

Congrats. I would withdraw 800 then when its cleared withdraw 700

Cheers. Thought about that, then thought it might look a bit suss

 

[geordiecolin]

Cheers. Thought about that, then thought it might look a bit suss

After the 800 clears I would take a few spins in case it recognises it.

 

[Jono777]

After the 800 clears I would take a few spins in case it recognises it.

Was going to say similar.

Do the initial withdrawal, then wager say £100 (carefully lol) and then w/d the rest as if it looks like you were tired / got bored

 

[Guntis]

Here is some info and FAQs on Travel Rule:

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[Flyingslotsman]

Was going to say similar.

Do the initial withdrawal, then wager say £100 (carefully lol) and then w/d the rest as if it looks like you were tired / got bored

I withdrew a few weeks back for £800, today I withdrew £600 and I've had a decent hit with balance remaining, I'd like to withdraw the lot in a oner lol

 

[Flyingslotsman]

Here is some info and FAQs on Travel Rule:

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Thanks. This is the part I'm talking about

"If the withdrawal amount is over 1,000 EUR, we will also be required to pass other information."

 

[Guntis]

Thanks. This is the part I'm talking about

"If the withdrawal amount is over 1,000 EUR, we will also be required to pass other information."

I think that rule doesn't apply to you as you're only sending crypto to your wallet, not withdrawing from it.

It's a strange rule anyway, i've never heard of it.

 

[Flyingslotsman]

I think that rule doesn't apply to you as you're only sending crypto to your wallet, not withdrawing from it.

It's a strange rule anyway, i've never heard of it.

Ah. So when I withdraw from crypto.com they'll start quizzing me, fantastic.... Appreciate it

 

[Guntis]

Ah. So when I withdraw from crypto.com they'll start quizzing me, fantastic.... Appreciate it

Yes, but it's unclear when they might ask - on a withdrawal of 1k in one go or a total sum of many withdrawals you make over time.

A withdrawal from your wallet on Crypto.com, is essentially a deposit to a casino.

 

[jasonuk]

I think that rule doesn't apply to you as you're only sending crypto to your wallet, not withdrawing from it.

It's a strange rule anyway, i've never heard of it.

I would expect it's the crypto version of CDD/AML - those that want to operate in UK markets are being forced to tighten up.

Some neutral information (from the regulator) on the rule changes introduced in September 2023:

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[Guntis]

I would expect it's the crypto version of CDD/AML - those that want to operate in UK markets are being forced to tighten up.

Some neutral information (from the regulator) on the rule changes introduced in September 2023:

You do not have permission to view link Log in or register now.

Likely, at some point, they will want to know who exactly sends crypto to you and where you send it.

 

[Guntis]

Actually, they already want to know that.



This means that if one receives a payout from a crypto casino, Crypto.com can stop the payment and release it only after the sender's details are provided. Feck it, crypt.com is not good.

 

[Flyingslotsman]

Actually, they already want to know that.

View attachment 199866

This means that if one receives a payout from a crypto casino, Crypto.com can stop the payment and release it only after the sender's details are provided. Feck it, crypt.com is not good.

That's exactly what happens. Simple form to quickly fill out but annoying. What works better than crypto.com?

 

[Guntis]

That's exactly what happens. Simple form to quickly fill out but annoying. What works better than crypto.com?

The best option where no questions are asked is a private non-custodial wallet.

But for cash, you'd still need to send and sell your crypto using exchanges like Coinbase, Crypto.com, etc.

If crypto.com is just a simple thing like:

Sender: Casino blahh
Country: Curacao
Wallet Type: non-custodial

Then i'd stick with Crypto.com, especially if they release funds right after you submit those details, and their fees for selling and transferring are fair.

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I also tried Kraken and all worked fine.



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Coinbase closed my account after using it for 4 years. No idea whether it was because of gambling. They just sent a message saying they believe i broke their rules and that was it.

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But in general i use Revolut. One of the benefits for me is that i don't even sell crypto for cash, i just pay in shops, etc straight from a crypto balance.

See if others can suggest anything else.