Set Up and Create Your First Policy

Set Up and Create Your First Policy

There are four individual components that make up a policy. Think of these as building blocks to enable you to create the exact policy you need to protect your assets. 

• Scope: The coverage of the policy 

  • Example: All wallets in your enterprise 

• Touchpoint: The operation that triggers the policy 

  • Example: Withdrawal 

• Condition: Required criteria that leads to specified actions  

  • Example: Spending limit: e.g., withdrawals greater than $50k 

• Action: Something that must occur in order for the operation to proceed

  • Example: Wallet Admin Approvals 

To learn more about BitGo’s policy engine, go Managing Policies > Policy Structure. 

 [Example] Create Your First Policy 

For this example, let’s create a policy that will prevent a user from sending funds to a non-whitelisted address from any wallet in your enterprise. 

1. Navigate to the Security > Policies page on the left side bar navigation and click on the + Create Policy button on the right hand side. 

2. Name your policy 

3. Navigate to the Scope field. Scope determines which wallets in your enterprise the policy applies to. For this example, we will select All Wallets in My Enterprise. Other available scope options include:

• Wallet Type: Applies the policy to wallets of a specific type:

  • Hot

  • Self-managed Cold

  • Custody

• Single Wallet: Applies the policy to one specific wallet. Note that at least one wallet must have been created to use this option.

• Multiple Wallets: Applies the policy to more than one wallet. Note that at least two wallets must have been created to use this option.

• Go Account

4. Next, in the Condition field, select that this policy will trigger on every attempted Withdrawal. 

5. Click New Condition to define the criteria that will trigger the policy. For this example, we are creating a rule that prevents a specific user from sending funds to any non-whitelisted address. Since we want to restrict which addresses can receive transfers from this wallet, select Destination as the condition. Then, under Type, select Non-Whitelisted Address and click Confirm.  

5b. You can add as many conditions to a policy as needed. For this example, we are adding a second condition that blocks a specific user from initiating transfers from this wallet. 
    
Click + New Condition and select Initiated By as the condition type. In the User IDs field, enter the relevant user's name (e.g., Arnold) and click Confirm. 

5c. Clicking Confirm will create the condition and open the And/Or option. Here, we will select Or because we want the condition to be applied if either the first or this condition is met. 

• Selecting And means all conditions must be met 

• Selecting Or means at least 1 condition must be met

6. Next, we want to determine what action will occur if the conditions are met. Click New Action. Select Automatically Reject under the Action Type from the drop down menu and click Confirm. 

7. Once all conditions have been set and reviewed, click Publish Policy. 

8. You have successfully created your first policy!