Share this article
Coinbase to Require Recipient Information for Crypto Transfers From Users in Canada, Singapore and Japan
Customers in those countries who send crypto outside their Coinbase accounts must provide recipients' names and addresses starting in early April.
Updated May 11, 2023, 5:57 p.m. Published Mar 25, 2022, 9:46 p.m.
Cryptocurrency exchange Coinbase Global (COIN) will soon require its customers in Canada, Japan and Singapore who send cryptocurrency to another financial institution or exchange to provide the name, address and, in the case of Japan, the destination wallet of the recipient.
Coinbase has been sending notices to its customers in those countries that the changes will take effect in early April in order to comply with local regulations.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
"We adhere to the laws in the jurisdictions in which we operate," a Coinbase spokesperson told CoinDesk via email, adding:
"While we will always advocate for what we think the laws should be, we must respect the laws that exist if we want to offer the suite of Coinbase services to customers in that country. I also want to make it clear that these changes, as outlined in our FAQ, only apply to Canada, Singapore, and Japan, where the laws require us to collect additional information. We are not applying this globally to customers."
The move does not seem to be going over well with Coinbase customers in those countries, who value the built-in pseudonymity of cryptocurrency transactions.
Wait, then what’s the point of crypto/blockchain, being outside of fin.system and all.. I may be better of sending fiat money 😂 crypto freaks may not realise but the market is getting extremely regulated. #Coinbase #fail pic.twitter.com/PQ9Z5kQyNs
— Eurasianomics (@eurasianomics) March 25, 2022
According to a FAQ provided by Coinbase, for Canadian users, sending more than CAD $1,000 ($798) in crypto to a financial entity or other crypto exchange will require the name and address of the recipient. This will take effect starting April 4, Coinbase said, citing Canada's FINTRAC rules as reasons for the change.
For users in Singapore, all crypto transfers from a Coinbase user's exchange wallet to an outside address will require the recipient's full name and country of residence. This will take effect on April 1, with Coinbase citing local Singaporean regulations.
And in Japan, all transfers of crypto assets to recipients outside of Japan must include the recipient's name, address and destination wallet, according to the English translation of rules established by the Japan Cryptocurrency Trading Association (JVCEA). This will take effect on April 1.
Read more: Crypto Heavyweights Coinbase, Fidelity and Robinhood Back US Anti-Money Laundering Group
UPDATE (March 26, 14:33 UTC): Adds comment from Coinbase.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Crypto's 'Best Days Are Ahead': Tom Lee's Bitmine Immersion Adds $320M of Ether
The company is likely sitting on about $3 billion in unrealized losses on its holdings of nearly 4 million ether tokens.
What to know:
- BitMine Immersion Technology (BMNR) acquired 102,259 ether last week, valued at around $320 million, increasing its holdings to nearly 4 million tokens.
- The company currently has about $3 billion in unrealized losses on its ETH investments.
- Chairman Thomas Lee expressed optimism about the future of crypto, citing positive legislation and Wall Street support as reasons for continued accumulation.
Top Stories
