Bitstamp Users Face New Deposit Rules for Self Custody Wallets

Starting August 18, Bitstamp is reportedly changing how it handles crypto deposits over €1,000 originating from self custody wallets. Users who try to send funds from wallets not clearly linked to their account may find their transactions rejected. The exchange has not issued a formal public statement, but several users have shared notices about this incoming update.

It is important to note that this rule specifically targets third party wallets. Deposits coming from other exchanges appear to be unaffected. Furthermore, Bitstamp provides tools for users to verify their own wallet addresses through ownership checks and other identity measures. If a deposit is rejected, the funds will not automatically return to the sender. Instead, customers must contact support to coordinate the return of their assets, which could cause significant delays.

This move aligns with broader European Union regulations known as the Travel Rule, which mandates that service providers verify the owners of self hosted wallets for transactions over €1,000. These regulations aim to combat money laundering, though they place more administrative work on the individual trader.

If you use Bitstamp, it is a good idea to verify your self custody addresses through the platform before moving large amounts. Keep an eye on your official account communications to see if your specific region or account type is impacted by these changes.