Exchange Verification

Crypto Exchange Requires
Proof of Funds?

Bitpanda, Binance, or Kraken is asking you to prove the origin of your cryptocurrencies? This verification has become standard since EU regulation. Here you will learn what you need and how to avoid account suspension.

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Exchange Verification in Numbers

Since EU regulation (TFR, MiCA), verification requests from crypto exchanges have increased significantly:

From €1,000
TFR Threshold
Transfers over €1,000 between exchanges and wallets have been subject to stricter controls since 2025
14-30 Days
Response Deadline
Typical deadline for submitting proof of funds
Account Suspension
If You Don't Respond
Without proof, your account may be restricted or suspended
Background

Why Crypto Exchanges Require Proof of Funds

Regulated crypto exchanges must document the origin of crypto assets under EU Regulation 2023/1113 (Transfer of Funds Regulation). These triggers initiate the verification:

01_TFR_REPORTING

Transfer of Funds Regulation (TFR)

Since 2025, transfers over €1,000 between exchanges and private wallets must include complete sender and recipient data. This triggers verification for many users for the first time.

02_KYC_UPGRADE

KYC Upgrade & Account Review

Exchanges regularly review existing accounts. If your trading volume has increased, new regulations apply, or your account level is being updated, a re-verification can be triggered.

03_LARGE_MOVEMENT

Large Deposits or Withdrawals

Above-average deposits or withdrawals trigger automatic compliance checks. The exchange is required to actively inquire about unusual amounts.

Bank vs. Exchange

Difference: What Banks and Exchanges Each Want to See

Bank Request

  • Focus on fiat origin
  • Bank statements as primary proof
  • Wants to know: Where did the money for the crypto purchase come from?
  • Deadline: 2-4 weeks

Exchange Verification

  • Focus on crypto transaction history
  • Trade history and wallet proofs as primary evidence
  • Wants to know: Where do the crypto assets on your account come from?
  • Deadline: 14-30 days

TX-Partner prepares the documentation for both scenarios: bank-compliant and exchange-compliant.

What Exchanges Want to See

The Documentation Exchanges Require

Trade History

Complete trading history on the exchange itself: all purchases, sales, deposits, and withdrawals.

Wallet Ownership

Proof that external wallets belong to you. Signed messages or screenshots with wallet address.

Fiat Deposits

Bank statements confirming deposits to the exchange. This shows the legitimate origin of funds.

External Transaction History

For transfers from other exchanges: exports from the source exchange as proof of origin.

Consequences

What Happens If You Don't Respond

1

Withdrawals are blocked

You can no longer withdraw cryptocurrencies or fiat funds.

2

Deposits are blocked

New deposits to your account will be rejected.

3

Account gets restricted

Trading functions may be disabled.

4

Account termination possible

In extreme cases, the exchange can permanently close your account.

The longer you wait, the harder it gets. Respond immediately and start working on the documentation.

How TX-Partner Helps

How TX-Partner Supports Exchange Verification

TX-Partner prepares the documentation so the exchange accepts it. Fast, complete, without follow-up questions.

Prepare Transaction History

Chronologically document all trades, transfers, and DeFi activities. Across all exchanges and wallets.

Prove Wallet Ownership

Assignment of all wallet addresses to your identity. Traceable documentation of wallet connections.

Exchange-Compliant Format

The documentation is structured so compliance teams at the exchange can review it directly.

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Frequently Asked Questions

What We Get Asked Most

Yes. If you do not submit the proof of funds within the required deadline, the exchange can restrict your account: no withdrawals, no deposits, and in extreme cases account closure.
No. Decentralized exchanges have no KYC requirements and do not request proof of funds. This only applies to regulated, centralized exchanges like Bitpanda, Binance, Kraken, or Coinbase.
If an exchange no longer exists, on-chain data can serve as an alternative. TX-Partner reconstructs transaction histories from blockchain data, even when the exchange itself no longer provides exports.
Deadlines vary by exchange. Typically 14-30 days. Respond as quickly as possible, as your account may be restricted during the review.
No. Banks and exchanges have different requirements. Exchanges focus on the crypto transaction history, while banks additionally want to see the fiat origin. TX-Partner creates the crypto accounting for both scenarios.
View all questions
Back to Proof of Funds Overview All Services

Note: TX-Partner does not issue a proof of funds in the legal sense of the Austrian FM-GwG (Financial Markets Anti-Money Laundering Act) or comparable regulations. TX-Partner provides the complete crypto accounting (transaction history, wallet mapping, on-chain verification) that serves as the foundation for such proof. Review and acceptance is at the discretion of the respective financial institution.

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