The Travel Rule is a regulation designed to prevent illegal activities like money laundering in the cryptocurrency world. It requires crypto platforms to share certain information about the sender and receiver of funds when transferring money between platforms.
Here’s how it affects you as a Brighty user:
1. Transfers Within Brighty
If you’re transferring money to another Brighty user, nothing changes! These transactions happen within our app, so no extra information is needed, and the Travel Rule doesn’t apply.
2. Transfers Outside Brighty
If you’re sending crypto to an external wallet or another platform, the Travel Rule kicks in. In these cases, we’re required to collect and share some basic details about you and the person receiving the funds.
What Information Is Collected?
For external transfers, we may need:
Your information:
Full name
Account details
Address or ID number
Receiver’s information:
Full name
Wallet address
Account details
Your Privacy Comes First
We know how important your privacy is. That’s why we’ve put strong security measures in place to protect any information we collect. Your data is always handled with care and confidentiality.
Stay Updated
The rules around crypto are constantly changing, and we’re here to keep you informed. If you have any questions about how this works, our support team is ready to help.
By following these regulations, Brighty ensures a secure and trusted platform for all your crypto needs.