Providing additional information when sending cryptocurrency
On April 1, 2022, Coinbase introduced a few changes for customers in Canada to comply with local regulations in those countries. This change will only impact users in Canada who are transferring digital assets from their Coinbase exchange balance to a wallet off the Coinbase platform. This change will not affect a user’s Coinbase experience of buying and selling digital assets using Coinbase.
What’s changing?
Most steps of sending crypto outside of Coinbase remain the same as before. Learn more about How to send and receive cryptocurrency.
If you're located in Canada and are sending digital assets outside of Coinbase, you may need to provide information about the type of wallet you're sending assets to and information about the recipient, depending on the country:
Wallet type
What’s a self-custody wallet?
A self-custody wallet (also known as a self-hosted wallet) is a wallet for which the private keys are held by the user and not by the exchange or other financial institution. Examples of self-custody wallets include the Coinbase Wallet and BRD Wallet. To learn more, see Self-Custody Wallet.What’s a wallet at another exchange or institution?
A wallet at another exchange or financial institution is a wallet for which another exchange or financial institution holds the private keys (like your Coinbase.com account and asset balances). Select this option if you're sending funds to another exchange or financial institution (e.g. Gemini or Kraken).What if I don't know the recipient's wallet type?
Please ask the recipient and select the type of wallet accordingly.
Recipient details
For users in Canada only: When you send crypto to another exchange or financial entity, Canadian rules require us to collect additional information about the recipient of that transaction.
Which transactions are impacted?
Only transactions that meet both of the following conditions:
A user sends crypto assets of 1000 CAD or more.
The address receiving the crypto is controlled by another exchange or financial entity (i.e., the recipient's wallet is held by another exchange or an entity other than Coinbase).
What additional information is required?
Recipient's full name.
Recipient's residential address.
How do I provide this information?
Sending to myself checkbox
If you're sending the funds to another wallet that you own, check Sending to myself.Full name
Enter the full name of the recipient.Address
Enter the full residential address of the recipient.What if I don’t know the recipient's full name or their address/residential country?
Please ask them for this information and enter it accordingly.