Understanding Policies

Understanding Policies

BitGo policies are security rules that define when and how certain actions can take place, e.g., who can approve a withdrawal, when and how funds can move. They act as protective guardrails and can be applied at the organization level or wallet level. 

• Manage risk: stops unauthorized or high-risk transactions when needed 

• Simplify compliance: keeps operational behavior consistent and auditable

• Enable control: set rules that fit your structure and risk appetite

The Policy Engine is an automated decision-making hub that enables the creation, management and enforcement of policies across your wallets and enterprise. It is designed to help you tailor policies to keep your organization secure, ensure consistency, and also maintain an audit log of changes made. 

Some examples of policies are:

• Require two admin approvals for all transfers greater than $100,000

• Require approval from Mary and Michael when BTC transfers are initiated by John

• Require two wallet admin approvals for all transfers greater than $5,000 going to a non-whitelisted address

• Require two wallet admin approval for all settlement initiations 

When a transaction is initiated, the Policy Engine instantly checks all active policies to evaluate whether the request meets your organization’s security and operational requirements. Only transactions that meet your organization’s policies and pass required approvals are executed. 

Accessing Policies

Click Policies on the left side navigation bar