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Foxy2022
joined mar 2022
share Foxy2022 and generate bitcoin with reference codes.
4 topics on Foxy2022
+3
Foxy2022
by  Foxy2022
Crypto Travel Rules
Hi All

Just had a pop-up on my Wallet app regarding Travel Rules & that I may be required to provide the details of the person receiving the BTC.

How is everyone else handling this when sending to LB?
Say its your "Own wallet" or make up some details for the wallet owner?
Part of me thinks claiming its my own wallet is easiest but I dont really want to tell my exchange that Im the owner of LBs wallet!

What's everyone doing with this?

Cheers!
+3
Budzinho
Send to an external wallet first and just say it is your own wallet.

You can probably just send it directly too, they won't have the time and resources to check every transaction, plus when you get an address for your order here, it is a fresh address with no previous transactions.
+2
Foxy2022
I always send from the exchange to my personal wallet first, thats fine. It's when my wallet provider starts asking where Im sending the funds thats the potential issue. Thanks Budzinho.
+2
Psychonauts
We got this too but wondering if it’s not just a scare tactic as usual :-/
+2
MightyRux
Easiest way around this is a non-KYC wallet like Exodus, then you're not lying if there are potential legal implications down the line when you tell your exchange that it's your own wallet (ignoring the buying drugs on line aspect, obviously...). Currently under 50p in gas fees to have that extra layer of distancing.

Really enjoyed your wares before Christmas btw. Was looking at the curtains wondering if we'd left the window open after 150mcg. We had not. Think I'm due a restock of fresh stuff soon.
+1
Foxy2022
I currently send from the exchange to my private wallet anyway so my concern is sending from THAT wallet to LB if they start asking. I am currently tempted to just say Im sending to another wallet I own.

I actually already have an Exodus wallet as well but I never use it due to the fact the interface was designed by Satan himself & I actually hate using it!
+1
Budzinho
As long as it's a self-custodial wallet, then they aren't going to ask you for anything.

These FCA regulations only apply to FCA compliant 'exchanges' like Bitpanda, Coinbase, Kraken etc etc.

Self-custodial 'wallets' like Exodus, Coinomi, Atomic Wallet, etc etc are not exchanges or FCA compliant. They don't actually exchange coins for fiat, they are just a place to store, receive and send your coins.

Although many wallets do have some third party exchange incorporated into them, which are usually terrible on fees anyway.
+2
nowherematt
How is this not the top topic? I have no idea what to do. I’ve asked the seller and waiting for a response.
+2
Foxy2022
Thats what puzzles me tbh. Either it's no big deal, in which case fine I guess but it seems like this has the potential to really fuck things up on here depending on how strictly its done. Hopefully its the first one!
+2
nowherematt
Yeah no one seems bothered by it at all so maybe it’s no biggie
+1
Foxy2022
Thats kinda my hope. I mean if it was causing a lot of problems its all we would be talking about so hopefully just me being overanxious about it.
+1
pollypuff23
Just put M. Mouse. It’s box filler…it doesn’t mean anything..
+2
nowherematt
Really? And what about the wallet host? Just tick any?
+2
pollypuff23
I’m with Bitpanda, I don’t have an external wallet so I put the host as Bitpanda. Not had a problem 🤷‍♂️
+2
nowherematt
I’ve gone for it! Thanks for your help. I’ve asked many people what to do in this situation (including the seller and transaxe) and couldn’t get an answer. 🤞🏻
+1
Foxy2022
Did it go through alright? What did you put as the receiver? Thanks.
+2
nowherematt
It has gone through, i just put any name and said bitpanda.
+1
Foxy2022
Thanks for the update. Hopefully just a box-ticking exercise then, glad its not caused you a problem, it can get a bit stressful when things like this happen!
+1
Megan05
Are you sending straight to LB from exchange or sending to a personal wallet before sending to LB?
+2
Foxy2022
Always Exchange > Personal Wallet > LB.
+2
MightyRux
So just tell the truth and say it's to your own wallet. Your wallet doesn't care about these new rules.
+2
Foxy2022
My personal wallet is a Blockchain DeFi wallet. I have had a notification in the app that they may start asking for details of the recipient so thats more the issue.

Im not worried about the exchange as Im genuinely sending to my own Blockchain wallet when buying BTC its the last stage Wallet > LB that has me a bit nervous.
+1
MightyRux
What did this notification say specifically? I also have a Blockchain DeFi wallet and nothing different has popped up while using it for me...
+2
Foxy2022
I don’t recall the exactly, kicking myself for not screenshotting it tbh. Basically it was a notification on the home page for the DeFi wallet app that stated something like: “To comply with local regulations we may ask you to provide details of transactions to & from your wallet. These may include Name & wallet host etc.” Something very similar to that anyway. It sounds like your setup is basically the same as mine. Exchange > Blockchain Wallet > LB. Do you usually Blockchain DeFi to pay on here then I assume? Cheers Rux
+2
MightyRux
I generally use either that or Exodus. I swear the interface on the latter has got worse...I can't find the custom fee option any more, for one. Haven't had that pop up yet.
+2
Foxy2022
Yep. Its been a smooth setup for about 2 years now and, to be fair I have not put through a transaction since I got the notification as I am waiting on a vendor to restock so it might not even ask me.

I will give you a shout next time I put an order through & let you know what happens. Honestly Exodus has the most confusing, badly laid out setup I think Ive ever seen! Its like they TRIED to make it as bad as humanly possible, or maybe Im just too old for its bullshit 😂
+1
Wambamthankyoumam1
Seems they're clamping down on crypto assets in the UK. Wouldn't be surprised if we see an uptick in small sellers offering various services and wares (just so they can continue to buy their smoke).
Foxy2022
by  Foxy2022
Thank you LB & a bit of positivity!
Foxy2022
by  Foxy2022
Payment stuck on sending
Foxy2022
by  Foxy2022
How to handle an order issue?
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