Legal

Disclosures

Last updated: June 13, 2025

PLEASE READ THESE LEGAL DISCLOSURES CAREFULLY. BY ACCESSING OR USING THE SERVICES, YOU AGREE TO BE LEGALLY BOUND BY THESE DISCLOSURES.

Digital Assets. The term “digital asset(s)” does not refer to any legal or regulatory category under any national framework. The value of digital assets can be volatile and there can be a substantial risk that you lose money buying, selling, holding, or investing in digital assets. Each digital asset has unique features and you should research and understand an asset before you trade. Kraken is not an affiliate of the project teams of digital assets listed on Kraken’s platform.

Not Investment Advice. The information about digital assets on any Kraken website (including www.kraken.com and blog.kraken.com), the Kraken exchange, e-mails, or any other communications is for general information purposes only. Kraken does not provide investment, tax, or legal advice, and you are solely responsible for determining whether any investment, investment strategy or related transaction is appropriate for you based on your personal investment objectives, financial circumstances, and risk tolerance. The information should not be construed as a recommendation or solicitation to buy, sell, stake, or hold any digital asset or to open an account or engage in any specific trading strategy. You should consult your financial advisor, or legal or tax professional regarding your specific situation and financial condition and carefully consider whether trading, staking, or holding digital assets is suitable for you.

Related Parties. There may be instances when an individual or individuals acting on Payward's behalf is an investor, directly or indirectly, in certain tokens, and therefore may benefit from Kraken’s listing such tokens on the platform. However, such individual or individuals may be subject to a contractual lock-up for a period of time after the investment during which they cannot sell the tokens. All tokens, regardless of whether the investors are associated with Payward, are subject to the same strict review process and guidelines in determining whether to make them available to trade on Kraken.

No Insurance. Digital assets and Kraken accounts are not covered by insurance against losses. They are not subject to Federal Deposit Insurance Corporation or Securities Investor Protection Corporation protections in the United States or the protections of any comparable organization anywhere in the world.

FURTHER DISCLOSURES RELATED TO LICENSES

DISCLOSURE FOR CLIENTS IN THE UNITED KINGDOM

Payward Limited, doing business as Kraken, is registered with the Financial Conduct Authority (FCA) in the United Kingdom as a cryptoasset business with effect from 22 November 2021 under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, as amended (MLRs) subject to conditions.

The digital asset exchange and custody services are provided to you by Kraken as a registered cryptoasset business in the United Kingdom. However, as most cryptoassets are not specified investments under the Financial Services and Markets Act 2000 (FSMA), you will not be protected by the Financial Ombudsman Service or the Financial Services Compensation Scheme and you will have no recourse to the above-mentioned services in the event of a complaint relating to Kraken’s cryptocurrency services.

Payward Services Limited, doing business as Kraken, is authorised by the Financial Conduct Authority to carry on electronic money activities under the Electronic Money Regulations 2011 (FRN: 1010381).

Funds that you deposit in your Kraken account will be held as e-money. As an authorised Electronic Money Institution, Payward Services Limited is obliged to protect your funds through a process known as safeguarding. We do this by placing the funds into a separate, dedicated client money bank account. Please note that the e-money in your account is not covered by the Financial Services Compensation Scheme (FSCS).

DISCLOSURE FOR CLIENTS IN AUSTRALIA

Bit Trade Pty Ltd (ACN 163 237 634) (Bit Trade), doing business as Kraken, is registered with the Australian Transaction and Reporting Analysis Centre (AUSTRAC) in Australia under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth) and associated regulations.

Some cryptoassets are unregulated in Australia, profits may be subject to capital gains tax, and the value of cryptoassets can go down or up.

In accordance with Kraken's Terms of Service, Kraken and/or its affiliates may offer a variety of products and services to you, including but not limited to digital asset exchange and custody services. Kraken does not provide access to any digital assets that are financial products for the purposes of the Corporations Act 2001 (Cth) and does not hold an Australian financial services licence in connection with its digital currency exchange. You will not be protected by the Australian Financial Complaints Authority (AFCA) or the general consumer protection obligations owed by Australian financial services licensees in the event of a complaint relating to Kraken.

KRAKEN DERIVATIVES - WHOLESALE AUSTRALIAN CLIENTS ONLY

Additionally, Bit Trade is an authorised representative (AR No 001312156), of Beaufort Fiduciaries Pty Ltd (ACN 162 139 871), an Australian financial services licence holder (AFSL No 545124) with respect to the Kraken derivatives trading services known as Kraken Derivatives. Bit Trade's authorisations do not apply to any other services or in relation to digital assets otherwise offered by Kraken.

All derivatives will be made available to Australian wholesale clients by Beaufort Fiduciaries Pty Ltd.

By opening an account with us as a wholesale client, you represent, warrant, acknowledge and agree that you qualify as a 'wholesale client' within the meaning of the Australian Corporations Act 2001 (Cth) and you will be liable for any loss incurred by Bit Trade and/or Beaufort Fiduciaries Pty Ltd as a result of a violation of this representation.

DISCLOSURES FOR CLIENTS IN CANADA

Payward Canada Inc., operating as Kraken, is registered as a Restricted Dealer with the Ontario Securities Commission and the securities regulators in each of the provinces and territories of Canada.

Although the term "stablecoin" is commonly used, there is no guarantee that the asset will maintain a stable value in relation to the value of the reference asset when traded on secondary markets or that the reserve of assets, if there is one, will be adequate to satisfy all redemptions.

DISCLOSURES FOR CLIENTS IN BELGIUM

Virtual currencies, real risks. The only guarantee in crypto is risk. Read more: www.kraken.com/legal/be-disclaimer.

DISCLOSURES FOR CLIENTS IN IRELAND FOR FIAT SERVICES

Payward Ireland Limited, trading as Kraken, is regulated by the Central Bank of Ireland.

DISCLOSURES FOR CLIENTS IN NETHERLANDS

Payward Continental Services Limited (PCSL) is registered with the Dutch Central Bank (DNB) as a crypto service provider. DNB supervises PCSL’s compliance with the Act on the Prevention of Money Laundering and Terrorist Financing (Wet ter voorkoming van witwassen en financiering van terrorisme) and the Sanctions Act 1977 (Sanctiewet 1977). PCSL is not subject to prudential supervision by DNB or conduct supervision by the Dutch Authority for the Financial Markets (AFM). This means that financial requirements or business risks are not supervised and there is no specific financial consumer protection. PCSL is registered with DNB exclusively for its services for the exchange between virtual and fiat currencies and custodial wallet services, without this registration extending to other products or services.

Payward Continental Services Limited (PCSL) heeft een registratie bij De Nederlandsche Bank N.V. (DNB) als aanbieder van cryptodiensten. DNB houdt toezicht op de naleving door PCSL van de Wet ter voorkoming van witwassen en financieren van terrorisme en de Sanctiewet 1977. PCSL staat niet onder prudentieel toezicht van DNB of onder gedragstoezicht van de Autoriteit Financiële Markten (AFM). Dit betekent dat er geen toezicht wordt gehouden op financiële eisen of bedrijfsrisico’s en er geen sprake is van specifieke financiële consumentenbescherming. PCSL is uitsluitend geregistreerd bzij DNB voor haar diensten gericht op het wisselen tussen virtuele valuta en fiduciaire valuta, en voor het aanbieden van bewaarportemonnees, zonder dat deze registratie van toepassing is op andere producten of diensten.

Not investment advice. Crypto trading involves risk of loss.

Geen beleggingsadvies. Handelen in cryptovaluta brengt een risico van verlies met zich mee.

DISCLOSURES FOR CLIENTS IN GERMANY

This service is provided by DLT Finance, a brand of DLT Securities GmbH and DLT Custody GmbH. BaFin supervises DLT Securities GmbH for crypto trading and DLT Custody GmbH for crypto custody.

Dieser Service wird von DLT Finance bereitgestellt, einer Marke der DLT Securities GmbH und DLT Custody GmbH. Die BaFin beaufsichtigt DLT Securities GmbH für Kryptohandel und DLT Custody GmbH für Kryptoverwahrung.

DISCLOSURE FOR CLIENTS IN THE EUROPEAN UNION

Investment services, ancillary services and investment activities (the "Services") in relation to derivatives are provided and carried out by Payward Europe Digital Solutions (CY) Limited (ex I.F. Greenfields Wealth Ltd) ("PEDSL-CY"). PEDSL-CY is authorised and approved by the Cyprus Securities and Exchange Commission (CySEC) for the provision of the Services. PEDSL-CY is authorised and regulated by the Cyprus Securities and Exchange Commission with licence number 342/17. PEDSL-CY is registered in Cyprus with registered number HE 356603.

US LICENSES, REGISTRATIONS, AND REGULATORY DISCLOSURES

Payward Interactive, Inc. is registered as a Money Services Business with the Financial Crimes Enforcement Network (“FinCEN”), which is a bureau of the U.S. Department of the Treasury. The FinCEN registration number for Payward Interactive, Inc. is 31000270997766.

Payward Interactive, Inc. also holds licenses in the following U.S. jurisdictions. Additional information on certain state-level licenses may be obtained by accessing the Nationwide Multistate Licensing System (NMLS) Consumer Access website and referencing NMLS ID 1843762.

Jurisdiction

License

State Agency

Alabama

Money Transmitter License

801

Alabama Securities Commission

445 Dexter Avenue, Suite 12000

Montgomery, AL 36104

Alaska

Money Transmitter License

AKMT-012345

U.S. Money Transmitter Disclosures
Alaska	For Alaska Residents Only: If your issue is unresolved by Payward Interactive, Inc., 1-888-837-8818, please submit formal complaints with the State of Alaska, Division of Banking & Securities. Please download the form here: https://www.commerce.alaska.gov/web/portals/3/pub/DBSGeneralComplaintFormupdated.pdf Submit formal complaint form with supporting documents: Division of Banking & Securities PO Box 110807 Juneau, AK 99811-0807 If you are an Alaska resident with questions regarding formal complaints, please email us at [email protected] or call 907-465-2521
Arizona	If you have a complaint, please contact Payward Interactive, Inc. at 1-888-837-8818 and/or https://support.kraken.com/hc/en-us. If you still have an unresolved complaint regarding Payward Interactive, Inc.’s money transmission activity, you may complete an Online Complaint Form as stated on the File a Complaint against a Financial Institution or Enterprise page. AZ e-Licensing Portal for filing a complaint AZDFI Consumer Complaint Portal: https://elicense.az.gov/ARDC_FileComplaint
Arkansas	If you have a complaint, please contact Payward Interactive, Inc. at 1-888-837-8818 and/or https://support.kraken.com/hc/en-us. If you still have an unresolved complaint regarding Payward Interactive, Inc.’s money transmission activity, you may file the completed complaint form by e-mailing [email protected] or by mailing at: 1 Commerce Way, Suite 402 Little Rock, Arkansas 72202 Telephone: (501) 324-9260 Facsimile: (501) 324-9268 For additional information please refer to the How To File A Complaint page for the Arkansas Securities Department.
District of Columbia	If you have a complaint, please contact Payward Interactive, Inc. at 1-888-837-8818 and/or https://support.kraken.com/hc/en-us. If you still have an unresolved complaint regarding Payward Interactive, Inc.’s money transmission activity, you may file it by contacting the Department at: District of Columbia Department of Insurance, Securities and Banking 1050 First St., NE, Suite 801 Washington, DC 20002 Phone: (202) 727-8000 Fax: (202) 354-1085 E-mail: [email protected] Consumer Complaint Form Mail-in Version
Florida	Florida Office of Financial Regulation If you have a complaint, please contact Payward Interactive, Inc. at 1-888-837-8818 and/or https://support.kraken.com/hc/en-us. If you still have an unresolved complaint regarding Payward Interactive, Inc.’s money transmission activity, you may file it by contacting the Florida Office of Financial Regulation at: Online: https://flofr.gov/sitePages/FileAComplaint.htm. To file your complaint, you will need to register electronically through Online Services. A valid email address is required. Or By mail: Florida Office of Financial Regulation - Consumer Finance 200 E. Gaines Street, Tallahassee, FL 32399-0376 Telephone: (850) 487-9687
Georgia	Licensed by The Georgia Department of Banking and Finance. (Lic. # 66683/ NMLS# 1843762). If you have a complaint, please contact Payward Interactive, Inc. at 1-888-837-8818 and/or https://support.kraken.com/hc/en-us. If you still have an unresolved complaint regarding Payward Interactive, Inc. money transmission activity, you may contact the Georgia Department of Banking and Finance - Consumer Resources at (770) 986-1633. For more information please refer to https://consumer.georgia.gov/resolve-your-dispute/how-do-i-file-complaint.To file a complaint with the regulators, you may securely do so with the Consumer Financial Protection Bureau, an agency of the federal government, at http://www.consumerfinance.gov/complaint/ or by telephone at (855) 411-2372.
Illinois	Illinois Division of Banking If you have a complaint, please contact Payward Interactive, Inc. at 1-888-837-8818 and/or https://support.kraken.com/hc/en-us. If you still have an unresolved complaint regarding Payward Interactive, Inc.’s money transmission activity, you may file it online with the Illinois Division of Banking at https://idfpr.illinois.gov/admin/banks/dobcomplaints.html
Kansas	If you have a complaint, please contact Payward Interactive, Inc. at 1-888-837-8818 and/or https://support.kraken.com/hc/en-us. If you still have an unresolved complaint regarding Payward Interactive, Inc.’s money transmission activity, you may file it by contacting the Office of the State Bank Commissioner. 1) Complete consumer assistance PDF form English: https://www.osbckansas.org/consumer_files/complaintform.pdf Spanish: https://www.osbckansas.org/consumer_files/spanish_complaintform.pdf 2) Mail or fax the completed consumer assistance form and attachments to: Kansas Office of the State Bank Commissioner Attn: Consumer Affairs 700 SW Jackson St, Suite 300 Topeka, KS 66603 Fax: (785) 371-1229 Email: [email protected] If submitting electronically, submit your complaint here: https://www.osbckansas.org/consumers/file-a-complaint/ KS e-Licensing Portal for filing a complaint KS State Bank Commissioner of Kansas Complaint Portal: https://www.osbckansas.org/consumers/file-a-complaint/
Louisiana	If you have a complaint, please contact Payward Interactive, Inc. at 1-888-837-8818 and/or https://support.kraken.com/hc/en-us. If you still have an unresolved complaint regarding Payward Interactive, Inc.’s money transmission activity, you may file it by contacting the Office of Financial Institutions. All complaints must be submitted in writing. To file a complaint, please complete the complaint form and send to OFI (http://www.ofi.state.la.us/) by mail, email, or fax. Please note the following disclosures associated with virtual currency: Virtual currency is not legal tender in the United States and is not backed by the United States government. Payward Interactive, Inc. is not a bank or depository institution insured by the Federal Deposit Insurance Corporation and virtual currency is not subject to Federal Deposit Insurance Corporation or Securities Investor Protection Corporation protections. Legislative and regulatory changes or actions at the state, federal, or international level may adversely affect the value of virtual currency. Transactions in virtual currency may be irreversible, and accordingly, losses due to fraudulent or accidental transactions may not be recoverable. Some virtual currency transactions may be immediately effective when recorded on a public ledger, which is not necessarily the date or time that the customer initiates the transaction. The value of virtual currency may be derived from the continued willingness of market participants to exchange legal tender for virtual currency, which may result in the potential for permanent and total loss of value of a particular virtual currency if the market for the virtual currency declines or collapses for an extended period of time. Any surety bond required by law for the benefit of customers may not be sufficient to cover all losses incurred by customers. Customers should perform research before purchasing or investing in virtual currency.
Maryland	If you have experienced any problems or difficulties with your transaction(s), please contact Payward Interactive, Inc. at 1-888-837-8818 and/or https://support.kraken.com/hc/en-us. If you still have an unresolved complaint regarding Payward Interactive, Inc.’s money transmission activity, you may file a complaint by contacting the Maryland Department of Labor. The Commissioner of Financial Regulation for the State of Maryland will accept all questions or complaints from Maryland residents regarding Payward Interactive, Inc. NMLS ID: 1843762 by contacting the Commissioner's office at: 500 North Calvert Street, Suite 402, Baltimore, MD 21202, or (888) 784-0136.
Minnesota	To make a complaint, please make a call contacting the following: Minnesota Department of Commerce 85 8th Place East, Suite 208 Saint Paul, MN 55101 (Local) 651-539-1500 (Complaints) 651-539-1600 MN e-Licensing Portal for filing a complaint: MN Department of Commerce’s complaint page: https://mn.gov/commerce/consumer/file-a-complaint/
Mississippi	The Mississippi Department of Banking & Consumer Finance recommends that you attempt to resolve your complaint with the financial institution first by contacting Payward Interactive, Inc. at 1-888-837-8818 and/or https://support.kraken.com/hc/en-us to allow the opportunity to resolve the issue(s). If you still have an unresolved complaint regarding Payward Interactive, Inc.’s money transmission activity, you may file your complaint online at https://dbcf.ms.gov/complaint-form/ MS e-Licensing Portal for filing a complaint: MS Banking & Consumer Finance complaint page: https://dbcf.ms.gov/complaint-form/
Nevada	Virtual Currency Disclosure Payward Interactive, Inc is licensed by the Nevada Department of Business and Industry as a money transmitter. At this time, the Nevada Department of Business and Industry does not license or regulate services related to virtual currency, including but not limited to virtual currency transmission or exchange which may be conducted by Payward Interactive, Inc. Nevada Consumers If your account has a Nevada mailing address, we are providing this notice pursuant to Nevada law. If you prefer not to receive marketing calls from Payward Interactive, Inc. and wish to be added to Do Not Call List, please contact Payward Interactive, Inc. at 1-888-837-8818 and/or https://support.kraken.com/hc/en-us. If you still have further questions and need additional information, you can contact the Bureau of Consumer Protection, Office of the Nevada Attorney General at: Grant Sawyer Building, 555 E. Washington Avenue, Suite 3900, Las Vegas, NV 89101 Telephone: 702-486-3420 Fax: 702-486-3768 Attorney General’s Bureau of Consumer Protection Hotline: 702-486-3132 email: [email protected].gov
North Dakota	If your account has a North Dakota mailing address, we will not share personal information we collect about you with non-affiliates unless the law allows, or you provide authorization. Written authorizations from North Dakota consumers may be delivered to us at the email or mailing address below and must contain your name, address, signature and your consent. You may revoke your consent at any time by calling us at 1-888-837-8818 and/or https://support.kraken.com/hc/en-us, or by writing at the addresses below: Payward Interactive, Inc. 106 E. Lincolnway, 4th Floor Cheyenne, WY 82001
Pennsylvania	If you have a complaint, please contact Payward Interactive, Inc. at 1-888-837-8818 and/or https://support.kraken.com/hc/en-us. If you have an unresolved complaint you can file with the Consumer Financial Protection Bureau, an agency of the federal government, at http://www.consumerfinance.gov/complaint/ or by telephone at (855) 411-2372. For more information please contact the Pennsylvania Department of Banking and Securities (https://www.pa.gov/en/agencies/dobs.html; Tel: 1-800-722-2657).
Tennessee	Payward Interactive, Inc. is licensed by the Tennessee Department of Financial Institutions as a money transmitter. Virtual Currency Disclosure The Tennessee Department of Financial Institutions does not regulate virtual currency. Tennessee’s Money Transmitter License and the required surety bond do not cover the transmission of virtual currency. However, any company that offers to exchange, administer, or maintain virtual currencies for sovereign currency may be subject to state regulation and licensing as well as federal regulation. To verify a licensed Tennessee Money Transmitter, please click HERE or visit the NMLS Consumer Access website HERE.
Texas	If you have a complaint, please contact Payward Interactive, Inc. at 1-888-837-8818 and/or https://support.kraken.com/hc/en-us. If you still have an unresolved complaint regarding Payward Interactive, Inc.’s money transmission activity, please direct your complaint to: Texas Department of Banking 2601 N. Lamar Blvd. Austin, Texas 78705-4294 Toll Free: (877) 276-5554 E-Mail: [email protected] Fax #: (512) 475-1288 TX e-Licensing Portal for filing a complaint: Texas Department of Banking complaint page: https://www.dob.texas.gov/money-services-businesses/how-file-complaint
Vermont	If your account has a Vermont mailing address, we will not share personal information we collect about you with non-affiliates unless the law allows, or you provide authorization. Written authorizations from Vermont consumers may be delivered to us at the email or mailing address below and must contain your name, address, signature and your consent. You may revoke your consent at any time by calling us at 1-888-837-8818], or emailing us at https://support.kraken.com/hc/en-us, or by writing at the addresses below: Payward Interactive, Inc. 106 E. Lincolnway, 4th Floor Cheyenne, WY 82001
Virginia	Virtual Currency Disclosure Payward Interactive, Inc. is licensed by the Virginia State Corporation Commission as a money transmitter, but such license does not cover the transmission of virtual currency (Bitcoin).
Washington	Washington Division of Consumer Services If you have a complaint, please contact Payward Interactive, Inc. at 1-888-837-8818 and/or https://support.kraken.com/hc/en-us. If you still have an unresolved complaint regarding Payward Interactive, Inc.’s money transmission activity, you may file it online with the State of Washington Department of Financial Institutions at https://dfi.wa.gov/consumers/money-services-complaint.
Wisconsin	If you have a complaint, please contact Payward Interactive, Inc. at 1-888-837-8818 and/or https://support.kraken.com/hc/en-us. If you still have an unresolved complaint regarding Payward Interactive, Inc.’s money transmission activity, you may file it by contacting the Wisconsin Department of Financial Institutions online. WI e-Licensing Portal for filing a complaint: Wisconsin Department of Financial Institutions Complaint Portal: https://www.wdfi.org/contact_us/ComplaintDefault.htm Virtual Currency Disclosure The Wisconsin Seller of Checks law does not regulate virtual currency. Therefore, such transmissions are not covered under the Wisconsin license.
Wyoming	If you have a complaint, please contact Payward Interactive, Inc. at 1-888-837-8818 and/or https://support.kraken.com/hc/en-us. If you still have an unresolved complaint regarding Payward Interactive, Inc.’s money transmission activity, you may file it by contacting the Attorney General of Wyoming and the Consumer Protection Unit: Telephone:(307) 777-6397and/or (307) 777-8962 E-mail: [email protected] WY e-filing portal for filing a compliant: Wyoming Attorney General’s Office Consumer Complaint Form: https://attorneygeneral.wyo.gov/law-office-division/consumer-protection-and-antitrust-unit/consumer-complaints

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Alaska

Arizona

Arkansas

District of Columbia

Florida

Georgia

Illinois

Kansas

Louisiana

Maryland

Minnesota

Mississippi

Nevada

North Dakota

Pennsylvania

Tennessee

Texas

Vermont

Virginia

Washington

Wisconsin

Wyoming