From 1 July 2026, new Australian regulations called the Travel Rule will apply to cryptocurrency exchanges and other custodial digital asset platforms, including BTC Markets.
Here’s what’s changing, what it means for your transfers, and what (if anything) you need to do.
What is the Travel Rule?
The Travel Rule is part of Australia’s anti-money laundering and counter-terrorism financing framework (AML/CTF), administered by AUSTRAC.
It requires exchanges to collect and pass on certain information about the sender and recipient when crypto is transferred between platforms. The goal is to reduce scams and financial crime by making it easier to identify suspicious activity.
These requirements are already standard practice in many countries, and they bring crypto transfers in line with how information already travels with traditional bank transfers.
What’s changing when you withdraw crypto?
From 1 July 2026, when you make a crypto withdrawal, we’ll need some additional information about the beneficiary of the payment.
Here’s what to expect:
- All withdrawals will need to include the beneficiary information regarding whether the recipient is Individual or Non-Individual, and the full legal name of the recipient.
- Withdrawals to self-hosted wallets will continue to be processed as usual after you provide beneficiary details.
- Withdrawals to another exchange or custodial platform will require verification of the Travel Rule details with that platform. If the required Travel Rule information can’t be confirmed, your withdrawal may be delayed or rejected.
Because Travel Rule checks involve coordination between platforms, transfers between exchanges may take longer than usual.
We are also developing an address book feature that will allow you to save wallet addresses and their associated Travel Rule details. Once available, withdrawals to saved wallets will not require these details to be entered again. We are working to deliver this as soon as possible, though it may not be available by 1 July when Travel Rule obligations come into effect.
What’s changing when you deposit crypto?
If you receive crypto from another exchange or custodial platform, that platform may automatically send the required Travel Rule information along with the transfer.
Here’s what to expect:
- Deposits that include the required information from the sending platform will be processed as normal.
- Deposits without this information, including transfers from personal wallets, may require us to contact you for additional details before the deposit can be credited to your account.
Once the required information is confirmed, your deposit will be processed and future deposits from the same address need not go through this check again.
Please note: under the Travel Rule, deposits cannot be credited until the required information is received. If it can’t be provided, the transfer may need to be returned to the sending platform according to our policies.
What do you need to do right now?
No action is needed from you at this stage. As we prepare for implementation, you may notice some Travel Rule-related changes before 1 July 2026, including requests for additional information. Until the Travel Rule comes into effect, transactions will continue to be processed under our existing requirements.
As we get close to July 1, 2026, we will keep you updated on how these changes roll out across the industry and what, if anything, you’ll need to do on your end.
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The information cannot be relied upon for any purposes and is not intended to be a substitute for professional advice. The information does not purport to be complete, accurate or contain all of the information that a person may require to make a decision. It may also contain forward looking statements, which are subject to known and unknown risks, uncertainties and other factors. We recommend you obtain professional advice before making any decision with respect to the matters discussed in this document. To the maximum extent permitted by law, BTC Markets will have no liability for any loss or liability of any kind: (i) arising in respect of the information contained (or not contained) on this page; or (ii) arising from a person relying on any information or statement contained on this page. The information provided is only intended for recipients in Australia. This information cannot be reproduced without our prior written permission.