Sending crypto assets (Travel rule-related)

To send crypto assets to a wallet at an external exchange, follow the steps below.
Note:
- There is a fixed service charge for sending crypto assets to external wallets.
- There are currently no features for sending/receiving KAIA, but they are being prepared for release in the future.

1. On the LINE BITMAX main menu, tap Transfers.
2. Tap Send for the crypto asset you want to transfer.
3. Enter the amount you want to send.
4. Enter the address or scan the QR code of the wallet you want to send the crypto assets to.
5. Select whether the receiving wallet is a VASP or a wallet managed by the recipient.
Note: For more information about VASPs and wallets managed by recipients, see About VASPs and wallets managed by recipients.
6. If the receiving wallet is a VASP and is located in Japan, select the name of the VASP.
7. If the receiving wallet is a VASP and is located outside of Japan, select the name of the country the VASP is located in and then enter its name in half-width alphanumeric characters and symbols.
8. Select whether you're the recipient.
9. Select your reason for sending crypto assets.
10. Check the information on the Confirm application details screen, as well as the transactions subject to restriction under Declaration of unrestricted transaction.
Note: If no restrictions apply to your transaction, check "This transaction (i.e. sending of crypto assets) is not subject to restriction under FEFTA or by OFAC."
11. Read the "Provision of providing personal information to crypto assets exchange company" pop-up.
12. Check that all of your application information is correct, then tap Confirm and apply to send.
13. Enter your LINE Pay passcode.
14. Enter the verification code on the details screen and tap OK.

Important:
- If your name or address has changed, update your registered information on LINE Pay.
- You may not be able to send crypto assets to the country you selected in some cases.

For detailed instructions with screenshots, see the following LINE BITMAX official blog post. (Only available in Japanese.)

Six LINE BITMAX trading features

See also:
About the Recipient address list
Entering recipient names
I can't find the name of the recipient's service provider
I don't know whether the recipient is in Japan
I can't tap OK on the send screen
About LINE BITMAX IDs

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VASPs

Virtual Asset Service Provider (VASP) refers to service providers that receive crypto asset transfers on behalf of the recipient, including crypto-asset exchange service providers as defined in Article 2, Paragraph 8 of the Payment Services Act, as well as foreign crypto-asset exchange service providers as defined in Article 2, Paragraph 9 of the same Act.

Visit this site for a list of VASPs located in Japan.

Note:

- Only available in Japanese.

- Selecting the link will move you to an external site.

Wallets managed by the recipient

Refers to wallets for which the recipient manages the private keys and can directly execute the transfer of crypto assets. Examples include hardware wallets and software wallets owned outside of those provided by VASPs (such as MetaMask).

If you're using a VASP, your wallet is not considered a wallet managed by the recipient since private key management is entrusted to the service provider.

Please contact the receiving wallet service provider if you're not sure about the wallet type.

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Enter the recipient's name (or company name) in full-width katakana.

Note:

- If the recipient has a middle name, be sure to enter it.

- If the recipient's first and last name are not separated, enter their name in the "Last name" field and a half-width hyphen ("-") in the "First name" field.

Refer to the examples below when entering the company type.

Japanese companies

Enter the company name as it's written in its local language (excluding the company type) and its reading in katakana, then select whether the company type appears before or after the company name.
Note:
- Include the company type when entering the company name in English.
- For example, if the company is LINE Xenesis 株式会社, enter the company name as "LINE Xenesis", in katakana as "ラインジェネシス", and in English as “LINE Xenesis Corporation”.

Foreign companies

Enter the company name as it's written in its local language (including the company type) and in katakana.

Note:
- For entering the company name in katakana, enter the reading of the company's English name.
- If you're not sure how the company's name is written in its local language, enter what you think the name is in English in this section, as well.
- For example, if the company name in its local language is Abc Oy., enter the company name as "Abc Oy.", in katakana as "エービーシー　リミテッド", and in English as "Abc Ltd.".

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Currently, VASPs are unable to send reports to each other if they have adopted different reporting systems. For this reason, we cannot accept requests to send crypto assets to VASPs that are in a country or region subject to reporting and have not introduced a system we can report through.

You can currently send crypto assets to:

• Services operated by VASPs in countries/regions subject to reporting which have introduced systems capable of sending reports from Sygna Hub.

• Services operated by VASPs not in countries/regions subject to reporting, or for which their location is unknown.

• Private wallets (e.g. MetaMask)

Note: Transactions to recipients meeting the above conditions may still be stopped at the discretion of LINE Xenesis Corporation. For more details, see About the travel rule. (Only available in Japanese.)

LINE BITMAX has a feature that allows you to select a recipient address from among addresses you've previously sent crypto assets to. However, if a VASP you previously sent crypto assets to changes its company name, you'll see a message saying "you cannot currently send crypto assets to this address" for the corresponding transaction history. In this case, please enter the details (e.g. address, transaction information) again instead of selecting a recipient address.

Note: The details, such as the address, that you enter again will become selectable with the above feature.

We apologize for the inconvenience caused by the effects accompanying the changes announced below and ask for your understanding.

Changes to the procedure for receiving crypto assets (Only available in Japanese)

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If the crypto asset recipient is an individual other than yourself, the way you fill out the application will differ depending on the recipient's nationality.

Note:

- For the steps to send crypto assets to a wallet outside of LINE BITMAX, see this Help article.

- There is a fixed service charge for sending crypto assets to external wallets.

Japanese national recipients

1. Select Japanese national and enter the recipient's name in kanji and katakana.

Note: For example, if the recipient's name is Taro Yamada, enter their name in kanji as "山田　太郎" and in katakana as "ヤマダ　タロウ".

2. Enter the account name in the English alphabet.

Note: Make sure to enter the account name exactly as the recipient registered it.

3. Select the recipient's location/country of residence.

Note:

- If you select Japan, enter the recipient's postal code without a hyphen, tap the search icon, and then enter the details of their address.

- If you select Outside of Japan, choose the recipient's country/region, then enter their address, state/province and city, and postal code (in that order).

4. Check the information on the Confirm application details screen, as well as the transactions subject to restriction under Declaration of unrestricted transaction.

Note: If no restrictions apply to your transaction, check "This transaction (i.e. sending of crypto assets) is not subject to restriction under FEFTA or by OFAC."

5. Check that all of your application information is correct, then tap Confirm and apply to send.

6. Enter your LINE Pay passcode.

7. Enter the verification code on the details screen and tap OK.

Foreign national recipients

1. Select Foreign national and enter the recipient's name the way it's written in its local language and katakana.

Note:

- For example, if the recipient's name is John Doe, enter their name in English as "Doe　John" and in katakana as "ドウ　ジョン."

- If the recipient has a middle name, be sure to enter it.

- If the recipient's first and last name are not separated, enter their name in the "Last name" field and a half-width hyphen ("-") in the "First name" field.

2. Enter the account name in the English alphabet.

Note: Make sure to enter the account name exactly as the recipient registered it.

3. Select the recipient's location/country of residence.

Note:

- If you select Japan, enter the recipient's postal code without a hyphen, tap the search icon, and then enter the details of their address.

- If you select Outside of Japan, choose the recipient's country/region, then enter their address, state/province and city, and postal code (in that order).

4. Check the information on the Confirm application details screen, as well as the transactions subject to restriction under Declaration of unrestricted transaction.

Note: If no restrictions apply to your transaction, check "This transaction (i.e. sending of crypto assets) is not subject to restriction under FEFTA or by OFAC."

5. Check that all of your application information is correct, then tap Confirm and apply to send.

6. Enter your LINE Pay passcode.

7. Enter the verification code on the details screen and tap OK.

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If the crypto asset recipient is a corporation belonging to someone other than yourself, the way you fill out the application will differ depending on the recipient's location/country of residence.

Note: For the steps to send crypto assets to a wallet outside of LINE BITMAX, see this Help article.

Japanese companies

1. Enter the company name and its reading in katakana.

Note:

- Do not enter the company type along with the name.

- For example, if the company is LINE Xenesis 株式会社, enter the company name as "LINE Xenesis" and "ラインジェネシス".

2. Enter the corporate account name in English.

For example, if the company is LINE Xenesis 株式会社, enter the company name as "LINE Xenesis Corporation".

3. Select the company type and whether if appears before or after the company name.

For example, if the company is LINE Xenesis株式会社, select 株式会社 as the company type.

4. Select the recipient's location/country of residence.

Note:
- If you select Japan, enter the recipient's postal code without a hyphen, tap the search icon, and then enter the details of their address.

- If you select Outside of Japan, choose the recipient's country/region, then enter their address, state/province and city, and postal code (in that order).

5. Check the information on the Confirm application details screen, as well as the transactions subject to restriction under Declaration of unrestricted transaction.

Note:If no restrictions apply to your transaction, check “This transaction (i.e. sending of crypto assets) is not subject to restriction under FEFTA or by OFAC.”

6. Check that all of your application information is correct, then tap Confirm and apply to send.

7. Enter your LINE Pay passcode.

8. Enter the verification code on the details screen and tap OK.

Non-Japanese companies

1. Enter the company name as it's written in its local language and its reading in katakana.

Note: For example, if the company is Abc Group, Inc., enter the company name as "Abc Group, Inc." and "エービーシー　グループ　インク".

2. Enter the corporate account name in English.

Note: Make sure to enter the corporate account name exactly as the recipient registered it.

3. Select the recipient's location/country of residence.

Note:

- If you select Japan, enter the recipient's postal code without a hyphen, tap the search icon, and then enter the details of their address.

- If you select Outside of Japan, choose the recipient's country/region, then enter their address, state/province and city, and postal code (in that order).

4. Check the information on the Confirm application details screen, as well as the transactions subject to restriction under Declaration of unrestricted transaction.

Note:If no restrictions apply to your transaction, check "This transaction (i.e. sending of crypto assets) is not subject to restriction under FEFTA or by OFAC."

5. Check that all of your application information is correct, then tap Confirm and apply to send.

6. Enter your LINE Pay passcode.

7. Enter the verification code on the details screen and tap OK.

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