Important Update: Upcoming Changes to Withdrawals to Comply with the Travel Rule
For over a decade, BitMEX has prioritised security and regulations to empower safe innovation and secure the long-term future of the digital asset space. We believe this commitment is vital for building a safer, more transparent environment for everyone.
To uphold this shared commitment, we’re implementing a global standard called the Travel Rule. This protocol is essential to protect your funds from bad actors, and we need your partnership to help keep our community safe.
This article explains what the Travel Rule is, why it is necessary for your safety, and what it means for your trading experience. Read on to learn more about the new requirements for asset withdrawals and the simple steps you can take to protect your account.
If you haven’t signed up for a BitMEX account yet, we’re currently offering $5,000+ worth of rewards to new users – you can register here.
Your Safety is Our Priority: Introducing the Travel Rule
The Travel Rule is a global regulatory standard that mandates Virtual Asset Service Providers (VASPs) like BitMEX to securely exchange specific information about the originator/payer and beneficiary/payee of a digital asset transfer.
The goal? To fight against financial crime and keep your account safe. By increasing transparency in digital asset transactions, we can help to prevent illicit activities like money laundering and terrorist financing. This initiative isn’t about creating barriers; it’s about building a safer financial system together.
Building a Safer BitMEX: We Need Your Help
At BitMEX, we’re committed to providing you with the most secure and reliable trading experience possible. To achieve this, we’re strengthening our protections with the Travel Rule programme. By taking a few simple steps, you can help us safeguard your account and our community away from bad actors.
As a result, additional changes will be introduced on 30 October 2025. Users on BitMEX will be required to provide additional information when initiating web asset withdrawals, regardless of the transaction amount.
What additional information will be required?
- Wallet Type: Specify whether the receiving wallet is an Exchange/Platform or Self-custody.
- Exchange or Platform: An account for which a third party such as a cryptocurrency exchange or custodian holds and manages the private keys on your behalf. Please select from the list of exchanges in the dropdown under ‘Select Receiving Exchange’. If the designated exchange is not available in the list, please select ‘Other’ as the receiving exchange and provide the name of the receiving exchange and its official link in the form (as shown below).
- Self-custody: Software or hardware that enables you to store and transfer virtual assets in which you control or hold the private keys, also known as non-custodial or private wallets. No further information is required for withdrawals made to self-custody wallets.
- Beneficiary Details: When withdrawing to a third party beneficiary, please provide the beneficiary’s full legal name.
For more details on the new requirements, please refer to our Travel Rule FAQ here.
To streamline and ease future withdrawals, we recommend saving and managing beneficiary addresses details in your Address Book. The next time you withdraw, the information will be pre-filled for a seamless experience. To add an address, head on over to the Addresses tab and paste the wallet address with the corresponding network.
To add your own wallets, toggle the “Myself” option and give it a memorable nickname. This could be an address for a self-hosted wallet (like a Ledger), or an address from one of your associated exchange accounts.
For third party wallets, simply toggle the ‘Third Party’ option and input the beneficiary details.
Additionally, you can customise your security settings to fit your needs, including the verification method and setting a new address cooldown period. Learn more about it here.
If the system does not automatically detect your wallet type, you’ll be prompted to specify whether it’s an exchange/platform or self-custody wallet. For exchange/platform, simply select the exchange from the dropdown menu to complete the process, as shown below.
By taking a few seconds to set up your Address Book, you’ll ensure that future withdrawals are not only faster but also fully compliant and secure.
A Safer Trading Environment for Everyone
We understand that change can be challenging, and we’re committed to making this transition as smooth as possible. Since 2014, BitMEX has been built on a foundation of upholding the highest standards to provide the safest trading environment for our users.
By proactively adopting these global standards, we’re not just protecting our users and platform; we’re helping to build a stronger and more trusted digital asset ecosystem that you can confidently be a part of.
We’ll keep you updated on all future developments as we continue to evolve and strengthen our compliance to regulatory standards.
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