Hi there đ ,
Starting 1 July 2026, you may notice some additional steps when sending or receiving crypto on Wayex. Here is everything you need to know.
What is the Travel Rule?
The Travel Rule is a compliance standard now enforceable in Australia under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006. It requires all registered Virtual Asset Service Providers (VASPs) to collect and share information about the parties involved in a cryptocurrency transfer.
The goal is to make it harder for illicit funds to move undetected, support law enforcement in recovering stolen assets, and bring crypto in line with the same compliance standards that apply across other regulated financial markets.
What is changing for Wayex users?
From 1 July 2026, when you send or receive crypto externally, you will be asked to provide some additional details about the other party involved in the transfer. This is a straightforward process and you will be guided through it step by step.
Buying, selling and trading on the Wayex platform is not affected.
How it works when sending crypto
During the withdrawal process, you will see a series of prompts asking for information about the recipient. Please follow these carefully and answer accurately to avoid any delays to your transfer.
How it works when receiving crypto
If the sending platform has already provided the required information alongside your deposit, the transfer will be processed automatically with no action needed on your end.
If not, your funds will appear as pending. Head to your locked assets page, select the relevant transaction, and confirm the details of the sender to release the transfer.
Your privacy and data security
Your personal information is never disclosed publicly. Travel Rule data is shared between exchanges using encrypted messaging protocols that operate entirely separately from the blockchain. Wayex complies with the Privacy Act 1988 (Cth) to ensure your data is handled securely at every step.
What you should do now
Make sure your Wayex account details are up to date before 1 July 2026. When the changes take effect, the Wayex app will guide you through any additional steps as needed.
For further assistance, contact us through the live chat or email support@wayex.com.