Travel Rule FAQ

Summary: Certain crypto transfers require SpectroCoin (a virtual asset service provider, or VASP) to exchange limited sender/recipient information with other VASPs or to collect it from you when the other party is not a VASP. This page explains when we ask for information, what we ask for, and how this affects deposits and withdrawals on SpectroCoin.

1. Purpose of the Travel Rule at SpectroCoin

The Travel Rule is an anti‑money laundering and counter‑terrorist financing safeguard. Where applicable law requires, SpectroCoin must share specific originator (sender) and beneficiary (recipient) details with the receiving/sending VASP for qualifying transfers, or collect comparable information when interacting with self‑hosted (non‑custodial) wallets. This improves transparency and traceability for crypto transfers.

Key points

• We only request information that is necessary to comply with applicable law and to process your transfer safely.

• We may decline or hold a transfer if required information is missing, inconsistent, or cannot be validated.

2. Who is affected and when?

The Travel Rule primarily impacts customers whose transfers fall within regulated corridors or thresholds under applicable law. If a transfer is in scope, SpectroCoin will prompt you during the withdrawal or deposit process to provide:

• The legal name of the other party (beneficiary, if you send; originator, if you receive), and

• Whether the other party’s address is a self‑hosted (private) wallet or an account at another exchange/VASP.

In some cases, we may ask for supplementary details (e.g., account reference, VASP name, country, or additional identifiers) to meet compliance standards.

Note: Requirements vary by jurisdiction. The same transfer may be treated differently depending on the countries of the sender, recipient, and involved VASPs.

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3. Withdrawals to another exchange/VASP

3.1 What additional information will SpectroCoin ask for?

• Beneficiary’s legal name.

• Destination type: exchange/VASP account vs self‑hosted wallet.

• Where needed, supplementary details to complete the compliance message (for example, beneficiary account reference at the receiving VASP).

3.2 What if my withdrawal is rejected due to Travel Rule checks?

• The crypto will not be sent. You’ll receive a notification explaining that the withdrawal was unsuccessful.

• Review the requested fields and submit the withdrawal again with accurate details. If the issue persists, contact SpectroCoin Support.

4. Withdrawals to a self‑hosted (private) wallet

4.1 Why might I be asked to verify ownership of the self‑hosted wallet?

Many regimes require VASPs to apply additional diligence to transfers to/from self‑hosted wallets. Verification helps ensure the address belongs to you or to the stated beneficiary and reduces the risk of misdirection or misuse.

4.2 How can I verify my self‑hosted wallet?

• Preferred method (where supported): a digital signature from the address you intend to withdraw to, proving you control it.

• Alternative methods (where a signature isn’t feasible): we may request other evidence of control or transaction‑level confirmation consistent with legal requirements.

4.3 Why might verification fail?

• The address used to sign does not match the withdrawal address.

• The signature is invalid or made with a different key format than required.

• You attempted to verify a contract address or other unsupported address type.

• Network congestion or wallet‑compatibility issues prevented validation.

How to resolve: Re‑attempt the signature from the exact withdrawal address. If your wallet app can’t sign messages, consider using a different wallet that supports message signing, or contact Support for alternatives.

5. Deposits into SpectroCoin

5.1 What if my deposit is flagged due to a name mismatch or missing Travel Rule data?

• When funds arrive from another VASP, we may compare the originator name in the Travel Rule message with your SpectroCoin account name. If they appear inconsistent, we may hold the deposit and ask you (or the sender) to correct the details or provide supporting evidence.

5.2 What information might SpectroCoin ask me to provide for a held deposit?

• Your legal name as registered with SpectroCoin.

• Whether the transfer came from a self‑hosted wallet or a VASP account.

• Where necessary, sender details (e.g., legal name as per their VASP account) or additional context to reconcile the records.

5.3 Can SpectroCoin credit deposits that arrive without Travel Rule information?

• If required information is missing, we may temporarily lock the deposit and contact you for details about the originator. Once we receive and verify the information, we will credit the funds.

5.4 What happens if I do not provide the requested originator/beneficiary information?

• Depending on applicable law, the deposit may remain on hold until the required information is provided. In rare cases, we may return the funds to the sending institution or take other steps required by law.

5.5 Why is my deposit under review?

• We periodically review transactions to safeguard users and the platform. Reviews consider multiple factors (e.g., counterparties, patterns, risk signals). We know reviews can be frustrating, but they protect customer assets and help keep the platform safe.

6) Data protection and use of information

• We will use Travel Rule data only for compliance, security, and processing your transfer, and we will handle it per our Privacy Policy and applicable data‑protection laws.

• We retain information as required by law and our retention policies.

7) Troubleshooting tips

• Double‑check names: Use full legal names matching official ID/KYC profiles.

• Classify correctly: Indicate whether the destination/source is a VASP account or a self‑hosted wallet.

• Use supported networks and correct address formats.

• Keep records: If interacting with another VASP, keep their reference (account ID, memo, tag) handy.

8) Need help?

Contact SpectroCoin Support via web chat or email helpdesk@spectrocoin.com. Provide:

• Transaction hash (if available),

• Date/time, asset, network, and amount,

• The other party’s wallet type (VASP or self‑hosted), and

• Any error messages you received.

9) Important notice

This FAQ is for general information only. It does not constitute legal, tax, or investment advice and may reference features or processes that vary by jurisdiction, product, or time. SpectroCoin may update procedures to reflect legal or technical changes. Always follow on‑screen prompts and official SpectroCoin communications for the most current requirements.