Moving crypto between exchanges — Travel Rule explained
Quick answer: The Travel Rule requires crypto firms to share certain sender and recipient details for transfers. Transfers between your own accounts on registered exchanges are usually not taxable disposals — but keep records.
When you move bitcoin from one exchange to another, the receiving platform may pause the deposit while it verifies you own both wallets. This is normal under UK Travel Rule expectations.
What the Travel Rule is
FCA expects crypto asset service providers to collect and share information about crypto transfers to combat money laundering — similar in spirit to bank wire information.
What you may be asked
Proof that the sending wallet is yours, purpose of transfer, and identity details matching your account. Respond through official exchange support only.
Tax when moving between your accounts
Transferring crypto you already own between your own wallets or exchange accounts is generally not a disposal. Document wallet addresses in your records.
Frequently asked questions
Is a wallet-to-wallet transfer taxable?+
Moving assets you already own between wallets you control is typically not a CGT disposal — but tax applies when you sell, swap or spend.