Dear Traders, Upbit Singapore will implement Travel Rule during the month of October 2023. As the implementation will affect deposits and withdrawals of digital assets, please read this announcement carefully. Travel Rule is a global initiative for Anti-Money Laundering and Combating the Financing of Terrorism . It is led and recommended by the Financial Action Task Force and mandated by the Monetary Authority of Singapore under regulation PSN02 [para. 13]. Upbit Singapore being a Virtual Asset Service Provider will begin to collect and submit the required information to facilitate your deposits and withdrawals for digital asset transfers with other VASPs . Key Changes: - Digital asset transfers will be permitted only from/to approved VASPs or verified private wallets. - We will collect additional information from you to facilitate transfers. - We will submit your information to the counterparty VASP that will be required for the transfer. - We will verify the declared beneficiary or originator information before effecting any digital asset transfers. - We will allow digital asset transfers from/to a private wallet only if you can verify the ownership of the private key of the wallet. - Any digital asset transfers in or out will be rejected if the required information is not collected or the verification of the information is not successful. We will issue a second notice regarding the implementation date and any additional relevant details regarding the Travel Rule implementation. Thank you. Upbit Team. Find us on: - X : [https://twitter.com/upbitglobal] - Instagram : [https://www.instagram.com/upbit.exchange]