What is the Travel Rule?

The Travel Rule, also known as FATF Recommendation 16, is a global anti-money laundering (AML) and counter-terrorist financing (CFT) regulation issued by the Financial Action Task Force (FATF). It requires Virtual Asset Service Providers (VASPs) to collect and share information about the originator and beneficiary of crypto transfers between platforms.

In Singapore, the Monetary Authority of Singapore (MAS) has implemented the Travel Rule under Notice PSN02 on AML/CFT, which applies to all Digital Payment Token Service Providers (DPTSPs) licensed under the Payment Services Act 2019.

 

How Gemini Complies with the Travel Rule

To comply with MAS requirements, Gemini is required to collect, verify, and transmit counterparty information for certain crypto transfers. This affects:

• Withdrawals to another DPTSP (Exchange)
• Withdrawals to self-hosted wallets (e.g. MetaMask, Ledger)
• Deposits from external wallets or DPTSPs

Gemini supports Travel Rule compliance through the TRUST Network (Travel Rule Universal Solution Technology).

 

Withdrawing Crypto (Digital Payment Tokens)

The regulatory requirements under the Monetary Authority of Singapore (MAS), PSN02, requires that all Digital Payment Token Service Providers (“DPTSPs”) and other licensed entities under the Payment Services Act 2019 be fully compliant with the Value Transfer aka Travel Rule.

As part of regulatory requirements in Singapore, you'll need to complete the following before withdrawing crypto:

1. Address Attestation
   You must confirm ownership of the wallet you're withdrawing to — whether it's a self-hosted wallet or one hosted by another Exchange (DPTSP).
   ⚠️ Providing false information is considered a Conduct Violation and may result in account suspension.
   
   
   
2. Select Wallet Type & Completing Verification
   Choose whether you're withdrawing to: 

   1. An Exchange-Hosted Wallet → Gemini only supports withdrawals to exchanges that are part of the TRUST network or use an interoperable Travel Rule solution. Withdrawals to non-TRUST exchanges are not supported due to regulatory constraints

   2. A Self-Hosted Wallet → You'll need to verify ownership using one of these methods: 

      1. Small Deposit Test  or

      2. Signature Test (coming soon)
         
         Once verified, your wallet will be eligible for withdrawals.

💡 Note: If Withdrawal Protection is enabled, new addresses are subject to a 7-day hold before withdrawals can be made.

 

Refer to How do I withdraw crypto from my Gemini account? (For Singapore customers) for more information on withdrawing crypto from Gemini.

 

Utilising the Address Book

Gemini’s Address Book feature (previously known as “Approved Addresses”) is a list of known external cryptocurrency addresses for your Gemini account, each designated for a specific crypto asset. It allows you to store and manage multiple wallet destinations with clear labels, making withdrawals simpler and more confident.

Under Singapore’s Travel Rule requirements, users must complete specific verification steps for each address before withdrawing funds. Gemini’s Address Book is designed to guide Singapore customers through this compliance process. Any addresses that were added before the regulatory updates will remain unavailable for withdrawals until the necessary information and verifications (e.g., attestation, proof of ownership) are provided. The Address Book also displays the status of each address and clearly indicates any outstanding action items that must be completed to finalize the whitelisting process.

For more details on Address Book and how to add addresses in Address Book, see Address Book.  

 

Supported Assets and Networks

Withdrawals are currently limited to crypto assets on specific networks—either on Bitcoin (and its forks such as Litecoin, Bitcoin Cash, and Dogecoin) or on the Ethereum/ERC-20 blockchain. These restrictions are in place to support verification processes that help confirm the wallet owner's identity for each transfer. Support for additional networks and tokens will be added in the coming months.

While some assets may not be eligible for withdrawal, you can still receive deposits, buy, or sell other supported tokens on Gemini. For the full and up-to-date list of supported assets, please refer to our What cryptos are supported on the Gemini Exchange? article.

 

Depositing Crypto (Digital Payment Tokens)

Gemini is required by MAS regulations to collect information about the origin of any external Digital Payment Token (DPT) deposits.

• Users must attest to ownership of the depositing address by providing the full legal name and country of residence of the owner of any wallet that sends DPT to their Gemini wallet.
• To withdraw funds—whether in fiat or Digital Payment Tokens (DPT)—you must first complete a deposit attestation for any incoming crypto deposits. Once the required information is submitted, withdrawals will be enabled.

Refer to Singapore Deposit Attestations for more information on attesting to an incoming deposit.

 

Privacy Notice – How is my information protected during transfers?

When transferring from your Gemini wallet to another crypto address, we request the recipient’s name (whether a person or entity). To protect your privacy, the data you provide is shared only between the sending and receiving providers.