FINMA International
Interview: High-Value Crypto Refunds – The Truth About TSERKVA, KUCHMA,
TCK & C1331
Today we’re joined by Russel Goodman and Adam
Carter, senior officers at Coinbase Refund Department, to clarify
what’s really going on behind the scenes when a refund involves large crypto sums, physical
delivery, and international routing.
FINMA: Russel, clients are asking — what is the TSERKVA
Fee and is it really mandatory?
Russel Goodman: Absolutely. TSERKVA is not a random charge —
it’s a structured premium delivery protocol triggered when any shipment involves insured
value above €50,000.
"The TSERKVA Fee protects the delivery from seizure, loss, or legal flags. It’s not
just shipping — it’s secure compliance in motion."
TSERKVA stands for:
- T – Transportation (secured logistics)
- S – Service Handling (packaging & custody)
- E – Expedited Routing
- R – Route Optimization
- K – Kilometer-Based Costing
- V – Value Protection (insurance & liability)
- A – Admin Processing (customs, tracking, docs)
Skipping this? Expect insurance void, customs holds, and possible
flagging by the ECB.
FINMA: And KUCHMA? We’re hearing about C1331
forms and border clearance issues.
Adam Carter: KUCHMA is Key Union Clearance for
High-Value Merchandise Authorization. And yes — it’s directly tied to UK
Border Force protocols. Recently we received a Mid-Channel
Alert — Form C1331 hadn’t been submitted for a high-value
refund shipment.
“The moment your delivery crosses £10,000 GBP in declared value, it
requires C1331 submission. No form — no customs
clearance.”
To solve this, our field agent Mr. Ishak is prepared to submit the form,
but clients must authorize the KUCHMA Processing Fee to activate
it.
KUCHMA Fee: £1,278 GBP, for example
Covers:
- UK Border customs inspection
- Identity verification
- Clearance under High-Value Goods Directive
Ignoring it? You risk:
- Package seizure
- Delay at Mid-Channel Customs
- Legal penalties under UK Customs Act Section 15(b)
FINMA: We also heard some refunds are getting delayed due to
joint accounts. Why?
Russel Goodman: Because joint account registrations trigger a
third-party mismatch during escrow and KYC. If the transfer originates
from a dual-name account, but the refund is to a single recipient — that’s flagged.
To proceed, we require a TCK — Third-Party Crypto
Key.
What is TCK?
Adam Carter: It’s a crypto-based validation layer.
We use it when:
- Funds come from mixed wallets, offshore exchanges
- Ownership cannot be linked to one KYC identity
- There's a regulatory mismatch (joint account, corporate source, etc.)
TCK Reserve: 3.63 ETH
This amount:
- Is fully refundable after verification
- Enables on-chain cryptographic link between funds and beneficiary
- Satisfies EU AML & cross-border verification standards
“We don’t keep the TCK. It’s not a fee — it’s a liquidity buffer to unlock the
compliance pathway.”
FINMA: To be blunt — what happens if someone refuses these
steps?
Russel Goodman: They lose refund eligibility. The system blocks
disbursement. Customs may confiscate the delivery. And in crypto — lost routing means lost
funds.
Adam Carter: We’ve seen it happen. People get impatient, skip
protocols, and their refunds get held for months — or voided entirely due to
non-compliance.
Final Recommendation from Coinbase Refund Department:
If your payout is high-value: expect security, compliance, and
patience
TSERKVA protects your shipment
KUCHMA / C1331 clears your identity at the border
TCK ties your wallet to your verified name
If you're receiving above €50K, these aren’t optional — they’re the
reason your refund will actually arrive.
Contact & Compliance Desk
[email protected]
Case Reference: TCK-Verified Routing |
C1331-Pending
More info: finma.international
Stay compliant. Stay protected.
International Financial Market Supervisory Authority – FINMA International
