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Bitstamp set to reject third-party crypto deposits over €1,000
The reported Aug. 18 change would automatically reject such deposits, and rejected transfers will not be reversed on-chain without a customer request to support.
Bitstamp is expected to begin automatically rejecting certain crypto deposits over €1,000 sent from third-party self-custody wallets, starting Aug. 18, according to a Bitstamp-branded notice circulated by customers.
The notice reportedly targets wallets owned by someone other than the Bitstamp account holder, while deposits from other exchanges are said to be unaffected. It also does not describe a blanket block on customers moving assets from their own self-custody wallets.
CryptoSlate reports that Bitstamp has not publicly authenticated the notice, and it does not specify affected jurisdictions, account types, or the exact launch time. The exchange’s API documentation indicates how deposits are classified by origin, including an “originator_thirdparty” classification tied to whether the sending address is in the customer’s name.
The article adds that Bitstamp’s API says a pending deposit can be rejected without automatically returning the assets, requiring the customer to contact support to have funds sent back to the originator address. It also cites EU Regulation 2023/1113, which requires service providers to assess customer ownership or control for transfers from self-hosted addresses over €1,000, while allowing risk-based actions such as requesting information, executing, rejecting, returning, or suspending the transfer.