About Travel Rule
- Q1: What is the Travel Rule? Why do I need to provide this information when sending virtual currency?
The Travel Rule is an anti-money laundering (AML) regulatory standard introduced by the FATF. It requires virtual asset service providers (VASPs) to exchange originator and beneficiary information when transferring virtual assets, similar to the sender and recipient details required in wire transfers. When you send virtual currency from MAX to another compliant exchange in Taiwan, providing beneficiary information (such as their full legal name) is legally required. Both platforms must complete compliance verification before the transaction is broadcast to the blockchain. - Q2: Will this requirement increase the time it takes to send virtual currency?
In most cases, no. Address verification is processed in the background, and the data exchange typically completes within 30 seconds. The overall experience remains virtually identical to the standard transfer process. - Q3: Is Travel Rule verification required when sending to overseas exchanges or private wallets?
Currently, the Travel Rule primarily applies to transfers between compliant exchanges located in Taiwan. Transfers to overseas exchanges or private wallets continue under the standard process, subject to MAX's existing withdrawal policies and risk-control protocols.
Adding a Withdrawal Address
- Q4: Why does my newly added withdrawal address display a "Verifying" tag?
The system is verifying in the background whether this address belongs to a compliant exchange in Taiwan. This process typically takes under 30 seconds. While verification is in progress, you can continue using other platform features, but withdrawals to this address are temporarily paused. You will receive an APP push notification once verification is complete. - Q5: What should I do if the exchange I selected when adding the address differs from the system query result?
The system will automatically update the designated exchange based on the actual query result and notify you via an APP push notification. You do not need to delete and re-add the address; simply follow the updated exchange information for your next withdrawal. - Q6: Why do some addresses have no tag after verification and can be used immediately?
If an address is identified as belonging to an entity other than a Taiwan-compliant exchange (such as an overseas exchange or a private wallet), Travel Rule data exchange is not required. You may proceed using the standard withdrawal process, and no special tag will be displayed in your address book.
Sending Virtual Currency
- Q7: How should I fill in the "Recipient Legal Name" when sending?
Please enter the recipient's verified KYC legal name as registered on the receiving exchange. It must match the recipient platform's records exactly. If the name does not match, the transfer may fail, and the assets will be returned to your available balance. - Q8: Why are more fields required when the transfer exceeds a certain amount?
In accordance with regulatory requirements, single transactions equivalent to more than TWD 30,000 require more detailed originator and beneficiary information, including the recipient's country and city/town of residence. Because virtual currency prices fluctuate continuously, the threshold is determined by real-time market value and may vary slightly around TWD 30,000. If your residential address is not already on file in your KYC profile, the withdrawal page will prompt you to complete this information. - Q9: If I have previously used an address that passed verification, do I need to re-enter the information next time?
No. Once an address has successfully passed Travel Rule verification, the recipient name field will be automatically populated when using that address in the future.
Failed Transfers
- Q10: What happens to my assets if I receive a "Verification Failed" notification?
When the receiving exchange returns a verification failure, the transfer is canceled immediately. Your assets are returned to your available balance, and no transaction is broadcast to the blockchain. You may review the failure reason, make the necessary corrections, and initiate a new transfer. - Q11: What happens if an address repeatedly fails verification?
To safeguard your assets, withdrawals to an address will be temporarily disabled after 5 consecutive verification failures. Please contact customer support for further assistance.
Receiving Virtual Currency
- Q12: Will the deposit process differ when someone transfers virtual currency to my MAX account from another Taiwan exchange?
The process is identical on your end, and no extra action is required. MAX performs the Travel Rule verification automatically in the background. Once verified, the deposit will be credited to your account as normal. In accordance with personal data privacy regulations, sender information will not be shown in your deposit history.