Anytime a cryptocurrency deposit is sent to your Abra wallet, it is processed by Bittrex- Abra’s trusted partner for all Abra trading accounts.
Recently, Bittrex Global has implemented controls in compliance with the Bank Secrecy Act regulation, and more specifically, the“Travel Rule.” In certain instances, the Travel Rule requires financial institutions to pass on certain information to their counterparty-financial institutions.
Our partners at Bittrex, as well as all other cryptocurrency exchanges, must transmit required originator information for certain qualifying cryptocurrency transactions (“Qualifying Transactions”).
When Bittrex is required to do this for Qualifying Transactions, the information will be transmitted securely and automatically and will not require any additional action by you.
What does this mean for Abra users:
In most cases, you will not notice any difference within your Abra trading experience, as this transfer of information happens automatically. However, some cryptocurrency deposits may experience a delay of up to 48 hours, upon the expiration of which, the transaction will be approved automatically.
In some instances, such qualifying deposits may take less than 48 hours and if so, the status will change from pending to confirmed.