This is called the "Travel Rule", and it's part of an international effort to regulate crypto transfers analogously to bank transfers. When you send a wire tran

This is called the "Travel Rule", and it's part of an international effort to regulate crypto transfers analogously to bank transfers. When you send a wire transfer, you include the address of the recipient and your bank includes your address in the transfer. It's technically a FINCEN/FINTRAC requirement in the US and Canada, but they imposed the rule before any of the tooling existed... so there's a bit of a scramble happening right now to figure out how to comply with the rule. Coinbase put together a consortium with other centralized exchanges in an attempt to create a common standard that should hopefully reduce the manual work required by customers, but this is absolutely not isolated to them.