From July 1, 2025, new international regulations from the EU/EEA will be implemented. These changes mean that certain information must be collected when you send or receive cryptocurrency. This regulation, known as the "Travel Rule," ensures that information about both the sender and the recipient is secure and traceable. The goal is to make it easier to detect transactions related to fraud and other criminal activity.
The Travel Rule applies to all exchanges with customers in the EU/EEA. In other words, it is not only local exchanges like Firi that are implementing this, but also international exchanges such as Binance, Coinbase, OKX, and others.
The EU’s implementation of the “Travel Rule” for cryptocurrency is part of broader efforts to combat fraud, money laundering, and terrorist financing. These rules require crypto exchanges to collect and share information about the sender and recipient during cryptocurrency transactions. Similar rules have long existed in the traditional financial system. The aim is to increase transparency and make it easier to track illegal activity linked to crypto transactions.
The changes apply to all crypto exchanges, wallets, and similar services that operate and serve customers within the EU/EEA.
Fortunately, not much! When you send or receive cryptocurrency from Firi, you will simply be asked a few extra questions about where and to whom you are sending or receiving cryptocurrency.
Examples of such questions include:
The Travel Rule regulations mean that you’ll need to provide a bit more information when sending or receiving cryptocurrency. The app will guide you through this step by step. At the same time, the new rules come with some clear benefits:
We follow strict guidelines for data protection. Read our full terms here.
If you have any questions or want more information, our support team is ready to help. Feel free to contact us at: [email protected].