Travel Rule
The Travel Rule requires exchanges to share sender and receiver identity information with each other when transferring crypto above a threshold.
In depth
It extends a long-standing banking rule to crypto: the customer’s details "travel" with the funds so both institutions know who is behind a transfer. Adopted via FATF guidance, it is being implemented across many countries. It applies to exchange-to-exchange transfers, not to self-custody wallets in most regimes.
Why it matters
It is why some withdrawals ask you to name the destination exchange or beneficiary.