Several reports indicate that crypto transfers in Europe are facing restrictions due to stringent know-your-customer (KYC) procedures and blocks, potentially related to the Travel Rule. Coinbase is reportedly blocking transfers to recipients other than the user, and users must sign a message to prove ownership when sending crypto to a self-custodial wallet. If users receive funds instead of sending them, the sender must be identified. Other platforms such as OKX Europe also require similar steps. The compliance requirements are believed to be related to the Travel Rule, which mandates sharing certain information about the originator and beneficiary of wire transfers and other payments. The Banco of Investimentos Globais in Portugal has also blocked fiat transfers to crypto platforms, citing compliance with guidelines from regulatory authorities.



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