What is the change impacting Singapore customers?
The change will impact the manner in which you can exchange digital assets between your Gemini Exchange wallet and off-exchange wallet addresses. These changes are being implemented to ensure that Gemini is able to continue to provide you with best-in-class services while also meeting our Travel Rule and un-hosted wallet transfer obligations pursuant to the Payment Services Act (2019) as well as safeguarding your digital assets against fraud, account takeovers and other criminal activities.

These changes will only impact customers who transfer digital assets to or from their Exchange wallet. If you use the Exchange only for buying or selling digital assets, then these changes will not have any impact on your Gemini experience.

When will the change happen?

The change will become effective on 15 March 2022.  You will not be able to withdraw digital assets to any off-exchange wallet on or after that date until 7 days after you have submitted and attested to a self-owned wallet address for that digital asset network.

What is an approved address?

Please refer to this article for more details on approved addresses. 

Are approved addresses a new feature?

No, approved addresses are not a new feature. This feature has always been available to Gemini users and was specifically designed to help protect your account from unauthorized withdrawals. In line with the Payment Services Act, approved address with attestation will be permitted only to those wallet addresses which you own and control, and a waiting period will be in effect when changing or adding addresses, for your protection and safety.

Is there a limit on the number of approved addresses I can have?

No, there is no limit but we do not recommend more than one (1) approved address per blockchain. 

I do not plan to withdraw my crypto out of Gemini, do I need to add an approved address?

No, if you do not plan to withdraw crypto out of Gemini, you do not have to add an approved address. 

What is attestation?

Attestation means you represent that you are the sole owner of the wallet address and control all digital assets within that wallet. Providing a false attestation will be considered a Conduct Violation and may result in Gemini suspending your account or taking other actions as set forth in the User Agreement.

If I don’t attest ownership of an approved address, can I withdraw my crypto?

No, if you want to exchange digital assets between your Gemini Exchange wallet and off-exchange wallet addresses, you must attest ownership of the approved address.

Do I have to attest to withdraw fiat money from my account?

No, this change only applies if you want to exchange digital assets between your Gemini Exchange wallet and off-exchange wallet addresses. 

How long after I attest to an approved address, can I withdraw?

It depends:

If you already have an approved address, simply attest and continue to use.

If you do not, please add a new address. There will be a 7 day waiting period to approve your address before withdrawing crypto.

Is there any other way to withdraw my crypto?

No, if you want to exchange digital assets between your Gemini Exchange wallet and off-exchange wallet addresses, you must attest ownership of the approved address.

If an approved address is deleted, will the associated attestation be deleted as well?

Yes.