What if I transfer to non-compliant providers?

Summary

Crypto transfers to non-compliant providers are not supported by the platform.
Due to the latest EU Travel Rule Regulations for Crypto Assets it is not allowed to withdraw crypto to non-compliant providers and therefore it is not supported by the Cryptonow platform.

Not all service providers meet the regulatory standards set by the EU/EEA countries and Switzerland. Crypto transfers to non-compliant providers are not supported by the platform.
Due to the latest EU Travel Rule Regulations for Crypto Assets it is not permitted to withdraw crypto to non-compliant providers and therefore it is not supported by the Cryptonow platform. This protects both you and the platform from illegal or high-risk activity.

What this means for you

  • Outgoing transfers: Crypto transfers to non-compliant providers is not supported by the Cryptonow platform.

  • Incoming transfers: Transactions may require additional documentation or explanation before being approved. Deposits from non-compliant providers may be placed on hold or rejected.

Important information

  • EU Travel Rule (TFR) Regulations and requirements are based on EU/EEA and Swiss financial regulations.

  • Providers in high-risk jurisdictions or without proper registration/licensing may be considered non-compliant.

  • If a transfer is rejected, the funds may be returned, but delays can occur.

In short

Transfers to non-compliant providers are not supported. Always make sure the provider you are dealing with is regulated and compliant with EU/EEA and Swiss requirements.

Still need help?

If you’re unsure about whether a provider is compliant, our support team is happy to assist you.

Contact support
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Cryptonow GmbH, Marc-Aurel-Straße 10-12/15a, 1010 Vienna, Austria, provides the regulated service of exchanging crypto-assets for other crypto-assets and/or fiat currency as the principal counterparty to the client.

Cryptonow GmbH is licensed as a Crypto-Asset Service Provider (CASP) under Austrian law. Trading in crypto-assets involves substantial risk and may not be suitable for all investors. Prior to engaging in any transaction, investors should carefully assess their investment objectives, level of experience, and risk tolerance. The value of crypto-assets is highly volatile and may result in significant losses within a short period. Each crypto-asset possesses distinct characteristics, and investors should undertake thorough research and ensure they fully understand an asset before engaging in any trade. Past performance is not a reliable indicator of future results. This content qualifies as a marketing communication within the meaning of the Markets in Crypto-Assets Regulation (MiCAR), does not constitute an investment recommendation or financial advice, and investors must ensure they understand all associated risks, including the potential loss of the entire invested capital. Funds should not be invested if their loss cannot be financially sustained.