Skip to content

Travel Rule: HT MENA

What is the Travel Rule?

The Travel Rule represents a global compliance standard ensuring transparency in virtual asset transactions. It requires Virtual Asset Service Providers (VASPs) to gather and maintain information about transaction originators and beneficiaries when transfers exceed specified thresholds.

Within the MENA region under the Virtual Asset Regulatory Authority (VARA), virtual asset transfers surpassing AED 3,500 must comply with these mandates:

  • Withdrawals: VASPs must collect and store precise originator and beneficiary details before transfer initiation
  • Deposits: VASPs must obtain and verify originator and beneficiary details before granting access to received virtual assets

Required Information

Minimum originator information: - Name - Wallet Address / Account Number - Residential or Business Address

Minimum beneficiary information: - Name - Wallet Address / Account Number

For withdrawals exceeding AED 3,500, complete these steps to declare required details:

⚠️ Important: "assets will only be released after the required declaration is approved."

Scenario A: Complete Counterparty Information Saved

  • Select the saved individual or company during withdrawal
  • System displays saved information for review
  • Proceed directly with withdrawal instruction

Scenario B: Counterparty Saved But Information Incomplete

  • Select the saved individual or company
  • Input missing required details when prompted
  • Proceed with withdrawal instruction after completion

Scenario C: New Counterparty Not Saved

After you enter the recipient and amount and click Withdraw, Hex Safe shows the Travel Rule form:

  • Beneficiary Info: choose Individual or Company and enter the beneficiary's name. As you type, Hex Safe suggests matching saved counterparties; pick one to fill in their details. Then choose VASP/CASP and pick the provider if the address is held at an exchange or custodian, or Self-hosted if it's the beneficiary's own wallet.
  • Originator Info: filled in from your enterprise profile. Check it before you submit.
  • Optionally tick Save as a Counterparty to reuse the details next time.
  • Click Submit.
  • For non-intermediary institutions: Hex Trust defaults as originator VASP
  • For intermediary institutions: originator VASP and originator fields are editable
  • Withdrawal requires two separate approvals:
  • Approval to instruct withdrawal
  • Approval to save counterparty information

⚠️ Important: "assets will only be made available after the declaration has been successfully approved."

Step 1: Locate the Transaction

Find the deposit in Active Transactions or Transaction History. Deposits waiting for a declaration show as Receiving.

Step 2: Check Counterparty Information

  • If blockchain address and all required information are saved: No action needed
  • If information is missing or blockchain address is unsaved: open the deposit. Its details show Pending Originator / Beneficiary Declaration. Click Declare Now.

Step 3: Input Required Information

  • Originator Info: choose Individual or Company and enter the sender's name. Choose VASP/CASP and pick the provider if the assets came from an exchange or custodian, or Self-hosted if they came from the sender's own wallet. Add the sender's address and country. For an individual, also choose the identity document (ID Card, Passport or Driver's License) and enter its number.
  • Beneficiary Info: filled in with your enterprise. Check it.
  • Optionally tick Save as a Counterparty to store the information for future use

Step 4: Complete the Declaration

Click Submit. Hex Safe confirms that the declaration has been submitted and is pending internal review, and shows a summary of what you declared.