Source of Funds request?
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What is a Source of Funds request? SoF is a compliance requirement under anti-money laundering regulations (EU AMLD, FATF recommendations, MiCA) where the exchange asks you to document the legitimate origin of funds deposited to your account. This can cover fiat deposits (bank transfers, card payments) and crypto deposits (where did you originally acquire this cryptocurrency?).

Why exchanges request SoF: Large deposits, deposits from flagged addresses, unusual transaction patterns, enhanced verification requirements, or regulatory obligations in your jurisdiction. Some exchanges (like CEX.IO) routinely request SoF as part of standard onboarding for larger accounts.

Common SoF documents: Bank statements showing deposit origins, employment contracts and payslips, tax returns, crypto exchange history showing original purchases, mining records, property sale documentation, inheritance letters, gift affidavits. Each exchange has different format requirements and acceptance criteria — what Binance accepts may be rejected by Coinbase.

The hard cases: Bitcoin bought for cash in 2012, crypto mined in 2011 with no records, funds from a now-defunct business, or mixed sources that are hard to untangle. These are our specialty — see our undocumented source of funds service.

Our approach: We prepare the complete SoF package upfront — not just what the exchange asked for, but everything they'll request in follow-ups. This eliminates the iterative back-and-forth that causes weeks of delay. We know each platform's specific requirements from handling 1,500+ cases.

• Transaction volume threshold: Exchanges set internal thresholds (typically €10,000+ in cumulative transaction volume) that automatically trigger SoF verification. The exact threshold varies by exchange and jurisdiction.
• Blockchain analytics flags: Incoming transactions from addresses flagged by Chainalysis KYT, Elliptic, or Crystal — connected to mixers, darknet markets, sanctioned entities, or known fraud patterns.
• Rapid movement patterns: Deposit followed by immediate withdrawal attempt — a classic money laundering typology (placement and layering).
• Cross-border activity: Transactions involving multiple jurisdictions, especially if one is higher-risk. FATF Travel Rule requirements mandate SoF for cross-border crypto transfers above certain thresholds.
• Account profile changes: New device, IP from a different country, password reset followed by large withdrawal — patterns that suggest account takeover or behavioral anomalies.
• Counterparty risk: You received crypto from someone who is now under investigation. Even if you did nothing wrong, your account is reviewed as a connected party.

Source of Funds requests are not arbitrary — they are mandated by international anti-money laundering frameworks. The FATF (Financial Action Task Force) Recommendations require VASPs (Virtual Asset Service Providers) to conduct Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD) when risk indicators are present. EU AMLD6 (Sixth Anti-Money Laundering Directive) transposes these requirements into EU law, and MiCA (Markets in Crypto-Assets Regulation) adds specific crypto-asset compliance obligations. In the US, the Bank Secrecy Act and FinCEN regulations require MSBs to conduct CDD and file SARs when suspicious activity is detected. These frameworks legally compel exchanges to request SoF — the request itself is not optional for the exchange. However, the exchange must conduct the review within reasonable timeframes, respect consumer protection rights (especially under EU law), and return funds if the SoF documentation is satisfactory or if the hold is unjustified.