Providing additional information when sending or receiving cryptocurrency on-chain
On September 1, 2023, Coinbase introduced a few changes for customers in Singapore to comply with Monetary Authority of Singapore (MAS) regulations (PSN02 on AML/CFT, para 13). This only affects users in Singapore who are sending crypto from their Coinbase exchange balance to a wallet off the Coinbase platform, or from a wallet off the Coinbase platform to their Coinbase exchange account (learn more about sending and receiving crypto).
This will not affect a customer's experience of buying and selling crypto on Coinbase, or send/receive transactions between two Coinbase exchange accounts.
Requirements for sends
When sending crypto, you'll need to provide the following information:
Recipient's wallet type
Recipient's exchange name (if you're not sending to a self-custody wallet)
Recipient's full name
Recipient's country of residence
Requirements for receives
Monetary Authority of Singapore (MAS) PSN02 on AML/CFT, para 13 requires information about the sender when you receive crypto from outside Coinbase. You need to provide this information before you can access your crypto deposit.
To do this, check the email or notification about your crypto deposit, or provide the sender's full name and country of residence via the transaction details screen. If you don't know the information, please ask the sender.