Kraken

Legal

Disclosures

KRAKEN LEGAL DISCLOSURES

 

Last updated: Feb 8, 2024

 

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.

 

Kraken Ventures. Kraken holds tokens on its balance sheet for operational purposes or other reasons. Kraken Ventures, in which Kraken is a limited partner, is an investor in certain tokens. Kraken may therefore benefit from listing certain tokens on the platform. However, Kraken Ventures may be subject to a contractual lock-up for a period of time after its investment during which it cannot sell the tokens. All tokens, regardless of whether held by Kraken or Kraken Ventures, 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, 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.

 

DISCLOSURE FOR CLIENTS OF PAYWARD MENA HOLDING LIMITED
Virtual Assets can be volatile and may not be suitable for everyone. Please ensure you fully understand the risks involved. Payward MENA Holding Limited does not issue advice, make recommendations or opinions in relation to acquiring, holding or disposing of Virtual Assets. Payward MENA Holding Limited is not a financial advisor and all services are provided on an execution only basis. Payward MENA Holding Limited is a company registered at Unit 1, Floor 7, Al Khatem Tower, ADGM Square, Al Maryah Island, Abu Dhabi, UAE, and is authorized and regulated by the Financial Services
Regulatory Authority (Financial Services Permission Number 190008)  under the laws of Abu Dhabi Global Market.

US LICENSES, REGISTRATIONS, AND REGULATORY DISCLOSURES

Payward Ventures, Inc. is registered as a Money Service 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 Ventures, Inc. is 31000239561651.


Payward Ventures, 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 2029266.

Jurisdiction

License

State Agency

Connecticut

Money Transmitter License 

MT-2029266

 

Connecticut Department of Banking

260 Constitution Plaza

Hartford, CT 06103-1800

Delaware

Check Seller, Money Transmitter License

038950

 

Delaware Office of the State Bank Commissioner

1110 Forrest Avenue

Dover, DE 19904

Florida

Money Service Businesses License

FT230000424

View Disclosure

Florida Office of Financial Regulation

101 E. Gaines Street

Tallahassee, FL 32399

Guam

Foreign Exchange/Money Transmittal License

03-202300915-001

View Disclosure

Guam Department of Revenue and Taxation

PO Box 23607

Barrigada, Guam 96921

Iowa

Money Services License

2022-0189

 

Iowa Division of Banking

200 E. Grand Avenue, Suite 300

Des Moines, IA 50309

Louisiana

Virtual Currency Business Activity License

View Disclosure

Louisiana Office of Financial Institutions

8660 United Plaza Blvd, 2nd Floor

Baton Rouge, LA 70809

Maryland

Money Transmitter License

2029266

View Disclosure

Maryland Office of Financial Regulation

Attention: Licensing Unit 

1100 N. Eutaw Street/Suite 611 

Baltimore, MD 21201

Michigan

Money Transmitter License 

MT0024615

 

Michigan Department of Insurance and Financial Services

Consumer Finance Section

530 W. Allegan Street, 7th Floor

Lansing, MI 48933

Mississippi

Money Transmitter License

MT/2029266/2022

View Disclosure

Mississippi Department of Banking and Consumer Finance

Post Office Box 12129

Jackson, MS 39236

Missouri

Sale of Checks and Money Transmitter

MO-24-9366

 

Missouri Division of Finance

PO Box 716

301 W High Street 

Jefferson City, MO 65102

New Hampshire

Money Transmitter License

26675-MT

New Hampshire Banking Department 

53 Regional Drive Suite 200

Concord, NH 03301

North Dakota

Money Transmitter License 

MT104189

View Disclosure

North Dakota Department of Financial Institutions  

1200 Memorial Highway

Bismark, ND 58504

Ohio

Money Transmitter License

OHMT203

 

Ohio Division of Financial Institutions

77 South High Street, 21st Floor

Columbus, OH 43215-6120

Jurisdiction

Florida

If you have a complaint, please contact Payward Ventures, Inc. at 1-888-837-8818 and/or https://support.kraken.com/hc/en-us. If you still have an unresolved complaint regarding Payward Ventures, 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

Guam

Guam Department of Revenue & Taxation

 

If you have a complaint, please contact Payward Ventures, Inc. at 1-888-837-8818 and/or https://support.kraken.com/hc/en-us. If you still have an unresolved complaint regarding Payward Ventures, Inc. money transmission activity, you may file it by contacting the Guam Department of Revenue & Taxation at:

 

Online https://www.guamtax.com/app/contactus.do

Telephone number: 671-635-1835

Louisiana

If you have a complaint, please contact Payward Ventures, Inc. at 1-888-837-8818 and/or https://support.kraken.com/hc/en-us. If you still have an unresolved complaint regarding Payward Ventures, 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 Ventures, 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 Ventures, Inc. at 1-888-837-8818 and/or https://support.kraken.com/hc/en-us. If they are unable to assist you, or you would like to file a consumer complaint against the licensee, please contact the Massachusetts Division of Banks Consumer Assistance Unit at 617- 956 1500 ext 501, or visit the Division of Banks website at https://www.mass.gov/how-to/file-a-complaint-with-the-division-of-banks.

Mississippi

The Mississippi Department of Banking & Consumer Finance recommends that you attempt to resolve your complaint with the financial institution first by contacting Payward Ventures, 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 Ventures, 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/

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 Ventures, Inc.

100 Pine Street Suite 1250-A188, 

San Francisco, CA 94111