Unreflected deposits are deposits of crypto assets into a bitbank.cc account for which the sender's name and other information have not been registered.
Q. Why is it necessary to register the sender's name and other information ?
The revised Law for Prevention of Transfer of Criminal Proceeds, which went into effect on June 1, 2023, requires crypto asset exchangers to notify the sender and receiver information when transferring crypto assets. In addition, both the sender and the receiver are now obligated to record and preserve the matters notified and matters notified and received. Transfers to domestic crypto asset exchangers and foreign crypto asset exchangers are covered, and transfers to wallets managed by individuals, unregistered vendors, and wallets managed by vendors located in countries where notification is not required (hereinafter referred to as "unhosted wallets") are excluded from the notification obligation. For transactions to unhosted wallets that are exempt from the notification obligation, crypto asset exchangers are now obligated to record and store the name of the sender of the assets and other information. In addition, the Foreign Exchange and Foreign Trade Control Law requires a confirmation of a wider range of items than those required by the revised Act on Prevention of Transfer of Criminal Proceeds before a deposit is reflected. For this reason, we ask our customers to register their information in the "Unreflected Deposits" section for all crypto asset deposits.
Q. What happens if I do not register the sender's name and other information?
Deposited crypto assets are not reflected in your account. Please be sure to register information for unreflected deposits when you deposit to your bitbank.cc account.
【Please note】
・Please check the details of each deposit and register the correct sender's information.
・Please note that if accurate sender information is not registered, we may not be able to perform the legally required verification and may take measures to suspend transactions at our discretion.
Related FAQ：
How do I register the source information for Unreflected deposits?
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