Terms of Service for Canadian clients

Summary of Terms of Service  

The following is a summary of the Kraken.com Canadian Terms of Service provided solely for your  convenience and informational purposes. You must read the complete Terms of Service below for the  legally binding terms.  

Summary of Kraken.com Canadian Terms of Service  

This summary provides an overview of our Canadian Terms of Service that apply to your use of our website,  platforms, trading and other services. This summary is not legally binding and is purely for informational  purposes. While we hope this summary section is helpful, please read the complete Terms of Service below  for the legally binding terms regarding your use of the platforms and services, including with respect to  issues such as the following:  

• Applicable Terms. The Canadian Terms of Service will only apply to you if you reside in Canada.  We have separate terms of service that will apply to you if you reside outside of Canada.
• Account and Eligibility. The Terms of Service sets forth certain criteria for your eligibility to use  our services and platforms. It also includes requirements about who may create an account and  what you can’t do with your account.
• Our Services. Below, you’ll find terms about how you can use our services. There are fees  associated with our services, and the Terms of Service provide more information on those fees and  how they may be paid by you. There are also a number of ways in which you are prohibited from  using our services or platforms, some of which are covered below.  
• Supported Digital Assets and Availability of Services. Certain Digital Assets or Services may  not be available or may only be available in certain jurisdictions. We also may stop supporting  certain Digital Assets or may stop providing certain services.  
• Changes. The Terms of Service discuss changes we can make to our services, platforms, or the  terms themselves, including how we can suspend or terminate the services or platforms or your  account. Changes to the Terms of Service, our services, or platforms may be made at any time, with  or without notice. Continued use of our services and platforms is your consent to the Terms of  Service and any changes to them.  
• Risks and Liability. There are risks associated with using our services, and the Terms of Service  cover some of these risks. The Terms of Service also cover your responsibility for taking on risk,  limit our liability to you, and limit the remedies you may have against us and how you may seek  those remedies.  
• No Insurance. We aren’t a bank or other depository institution. Your account is not a deposit  account or bank account. Your account and digital assets aren’t covered by insurance against losses  or subject to protection by deposit insurance (e.g. CIPF, CDIC) or other investor protection  insurance schemes.
• Annexes. You may have the opportunity to use additional services we provide. The Annexes to  the Terms of Service contain terms and conditions on these additional services.
• Dispute Resolution. We hope to avoid disputes, but if there is a dispute, the Terms of Service  outline the informal and formal processes we have in place to resolve it.
• Terminate Account. You may terminate your account at any time by transferring your Digital  Assets and redeeming your Fiat Balances to a Financial Account and ceasing to use our services.  Certain terms of our relationship survive terminating your account, and these terms are detailed  below.  

The following is the binding and enforceable Canadian Terms of Service.  

Kraken.com Canadian Terms of Service  

Last Updated: April 2, 2025 

Please read these Canadian Terms of Service (including all Annexes, “Terms”) carefully, as they are  binding and govern your use of our services (“Services”, including the services set forth in Annexes hereto),  and our websites (including kraken.com, and pro.kraken.com), and mobile applications through which  you access our Services (“Platform”), along with any applicable third-party terms you may have agreed to  as part of using or receiving our mobile applications (such as terms for the Apple App Store or Google Play,  if applicable). If these Terms conflict with any such third-party terms, these Terms will control to the extent  of the conflict. By accessing or using our Services or Platform, or by creating an Account (as defined  below), you agree to these Terms.  

These Terms may change at any time and without notice, including updates to (1) reflect changes to our  Services and Platforms or how we do business; (2) reflect the addition of new services, features,  technologies, or offers; (3) address legal, regulatory, or security development; or (4) prevent harm to our  Services and Platforms or to those using our Services and Platforms. These Terms can only be modified in  writing, and any change will be effective as of the Last Updated date set forth above. You should frequently  check these Terms for updates. If you continue to access or use our Platform or Services, after we change  these Terms, you agree to all our changes.  

These Terms are a legally binding agreement between “you” (an individual, or an entity acting through an  authorized individual) and Payward Canada, Inc. (“we”, “us”, “our”, “Kraken” or “Payward”), except for  those Services provided by Payward Trading, Ltd. as described in Annex A, in which case these Terms are  a legally binding agreement between you and Payward Trading, Ltd.  

To make these Terms easier to read, we have organized them as follows:  

Terms of Service  

1. Eligibility; Account

2. Deposits of Crypto & Issuance of Fiat Balances

3. Withdrawals of Crypto & Redemptions of Fiat Balance

4. Trades

5. On-Chain Staking

6. Layer 2 Transactions

7. Fees; Taxes

8. Supported Digital Assets and Fiat Currency

9. Content; Feedback

10. Restrictions

11. Risks

12. Disclaimer of Warranties

13. Limitations on Liability

14. Indemnification

15. Dispute Resolution; Applicable Law

16. Suspension; Termination; Discontinuance

17. Legal Disclosures

18. Personal Data

19. Notices

20. General

21. Definitions

Annex A: Kraken Pay

1. Eligibility; Account  

Eligibility  

To use most of our Services, you need to create an account with us. Your account may hold Digital Assets or a Fiat Balance (“Account”). To use any of our Services, or to create an Account, you must meet  at least the following conditions (“Conditions”):  

• if you are an individual, be 18 years or older and a resident of Canada,  
• if you are an entity, be duly organized and validly existing under the applicable laws of Canada or  a province or territory of Canada, and be acting through an authorized individual who is 18 years  or older,  
• have a current and valid email address, mobile phone number, and street address,
• have full power and authority to enter into these Terms without violating any other agreement you  have made,
• not have been restricted from using our Services,
• to the best of your knowledge, the funds being used to transact under the Agreement: (i) were not  obtained or derived, directly or indirectly, as a result of illegal activities; (ii) are not intended to  be used, directly or indirectly, in order to carry out a criminal offence or a terrorist activity or for  the benefit of a terrorist group, (iii) are not owned or controlled by a terrorist group; and (iv) are  not being tendered on behalf of a person or entity who has not been identified to you. You are not  a person or entity identified on a list established under section 83.05 of the Criminal Code  (Canada) or in any Regulations made under the United Nations Act (Canada), the Freezing Assets  of Corrupt Foreign Officials Act (Canada), the Justice for Victims of Corrupt Foreign Officials  Act (Sergei Magnitsky Law) (Canada), the Special Economic Measures Act (Canada) or any  other Canadian statutes or regulations which take legislative measures against terrorist financing  and against financial dealings with certain sanctioned individuals and entities (collectively,  “Canadian AML and Sanctions Legislation”).

In addition, you may be required to comply with additional requirements to open an Account or use the  Services in the jurisdiction in which you are located. We will use reasonable efforts to notify you of such  additional requirements, but your ability to open an Account and/or use the Services will be subject to those  additional requirements whether notice has been provided or not. By making an Account or using the  Services, you represent and warrant that you meet all of these Conditions. If you stop meeting these  Conditions, you must immediately notify us and stop using your Account and the Services. We may require

proof that you meet these Conditions. Even if you meet these Conditions, we may, in our discretion,  determine that you aren't eligible to have an Account or use the Services.  

You authorize us to make inquiries, whether directly or through third parties, that we consider necessary to  verify your identity, to confirm the above eligibility requirements, to protect you or us against fraud or other  financial crime, and as we determine may be necessary to facilitate compliance with these Terms and  applicable laws. You understand and agree that we may take action we reasonably deem necessary based  on the results of such inquiries, that we have no obligation to inform you of the results of any inquiry and  that you expressly waive any obligation we (or are affiliates) may have to take, or advise you of, any  possible remedial measures. When we carry out these inquiries, you acknowledge and agree that your  personal information may be disclosed to credit reference and fraud prevention or financial crime agencies  and that these agencies may respond to our inquiries in full.  

Your Activities  

You agree to, and represent and warrant that you will:  

• not use your Account for the benefit of any person other than you,
• not share your Account or password with anyone else,
• maintain the security of your Account, including by using a strong password for your Account that  you don’t use anywhere else,
• notify us immediately if you discover or suspect any security breaches related to your Account,
• take responsibility for all activities that occur under your Account, and accept all risks of any  authorized or unauthorized access to your Account, to the maximum extent permitted under  applicable law, and
• provide accurate, complete, truthful, and updated information (including email address, mobile  phone number, and street address) at all times when using any Account or Service, including when  conducting a Trade, Deposit, and Withdrawal, and when otherwise prompted by any screen  displayed within the Services or on our Platform.

We may, in our discretion, determine that it’s necessary or appropriate to temporarily suspend or even  terminate your Account. Please see section 16 below for information on the suspension or termination of  an account.  

You are solely responsible for all acts and omissions that occur under your Account, and you will be deemed  to have made all actions taken using your Account.  

2. Deposits of Crypto & Issuance of Fiat Balances

Financial Accounts  

Many of our Services require you to have Digital Assets or a positive Fiat Balance in your Account. To  transfer Digital Assets into your Account (“Deposit”) or transfer Fiat Currency to a Designated Financial  Institution to be issued a Fiat Currency balance in your Account (“Issuance”), you need to be the actual or  beneficial owner of a financial account or wallet maintained outside the Services (“Financial Account”),  and your Financial Account must be approved by us. We don’t approve all Financial Accounts, and may  revoke our approval of any Financial Account at any time without notice.  

We aren't responsible for the use, management, or security of any Financial Account. By using a Financial  Account in connection with the Services, you represent and warrant that (1) you are the beneficial owner  of the Financial Account, (2) you are in compliance with all terms and conditions applicable to the Financial  Account, (3) you have the authority to make deposits to the Financial Account and take withdrawals from  the Financial Account, and (4) you have provided complete and accurate information to us regarding the  Financial Account. We may require you to verify that you control a Financial Account before accepting  any transfer from it, and you agree to provide us all necessary information to make such verification.  

Our Services only support certain types of Digital Assets. See Section 8 for more information. If you  attempt to Deposit any cryptocurrency or Digital Asset that our Services don’t support or accept, you may  permanently lose such cryptocurrency or Digital Asset and we won’t be liable for your loss. We may, at  our sole discretion, attempt to identify and return such assets, but we have no obligation to do so. If we  choose to do so, we may charge you a fee to cover our costs and expenses related to the identification and  return of such Digital Asset or cryptocurrency. Such fee may be withheld from the Digital Asset or  cryptocurrency that was the subject of the improper Deposit attempt.  

Execution

We don’t control or make any guarantees about the amount of time it takes to complete a Deposit or  Issuance. This time frame depends upon the performance of third parties, including third-party financial  institutions or payment services.  

Deposits and Issuances may not be cancellable once initiated. All Deposits and Issuances are final and non refundable once made, but you may be able to Redeem Fiat Balances or Withdraw Digital Assets in  accordance with Section 3 (Withdrawals & Redemptions). We may, at any time and without notice, reject  any Deposit or impose limits on Deposits you can make (for example, in magnitude and frequency) or a  Fiat Balance Issuance. If you reverse a Deposit, Issuance, payment, or other transaction made from a  Financial Account, you authorize us, in our sole discretion, to cancel the transaction or to use alternate  Digital Assets and Fiat Currency in your account as necessary to complete the transaction or resolve any  resulting shortfall or negative balance, including to exchange Digital Assets or Fiat Currency in your  account for alternative types of Digital Assets or Fiat Currency and deduct any applicable fees.

We may charge you Fees for Deposits and Issuances. See Section 7 for additional information on Fees.  There may also be third-party fees associated with use of Financial Accounts, and we aren’t responsible for  any such third-party fees.

Fiat Currency

Whenever you instruct your bank or payment service provider to deposit Fiat Currency with a Designated  Financial Institution or any other acceptable funding method that may be offered from time to time, we will  issue a Fiat Balance to your Account once such funds have been cleared and received by the Designated  Financial Institution. You agree that any Fiat Balance in your Account is only for the purchase of Digital  Assets or Redemption to a Financial Account approved by us. We don’t pay interest on any Fiat Currency  balances held in your Account. 

All of your Fiat Currency deposits will be held in a designated trust account with a Designated Financial  Institution.  

Custody and Title of Digital Assets  

Digital Assets held within your Account are custodial assets and are held by us in trust for your benefit in  a designated trust account at a Crypto Custodian or online in “hot” wallets administered by us. Title to all  Digital Assets you hold within your Account remains with you at all times and does not transfer to us,  except as provided herein. None of the Digital Assets in your Account or any other customer Account are  our property, are loaned to us, or are subject to the claims of our creditors, and we don’t represent or treat  Digital Assets in your Account, or in any other customer’s account, as our property. However, a court may  disagree with our treatment of your Digital Assets and subject them to claims of our creditors. We can’t  grant a security interest in the Digital Assets held in your Account (but we don’t represent or warrant that  any Digital Asset is free or clear of any security interest or other lien or encumbrance). Except as required  by a facially valid court order, or as set forth in these Terms, we won’t sell, transfer, loan, hypothecate, or  otherwise alienate any Digital Assets in your Account unless you instruct us to. If you elect to participate  in Bonded Staking, the foregoing sentence is subject to the Bonded Staking restrictions set forth in Section  5.  

You own and control the Digital Assets in your Account. Subject to these Terms (including its Annexes),  any outages or downtime, a court order, other applicable policies, or as otherwise provided herein, you may  withdraw your Digital Assets from your Account as described in these Terms. In order to more securely  and effectively custody Digital Assets, we may use shared blockchain addresses, that we control, to hold  Digital Assets on your behalf and to hold on our behalf. We maintain separate ledgers for your Account  and our accounts.  

We may hold Digital Assets in your Account in a variety of ways, including across multiple blockchain  protocols, such as “Layer 2” networks, alternative “Layer 1” networks, or side chains. In connection with  holding your Digital Assets, we may transfer such Digital Assets off of the primary blockchain protocol  and hold such Digital Assets on shared blockchain addresses we control or on alternative blockchain  protocols in forms compatible with such protocols. You agree that all forms of the same Digital Asset that  are held and made available across multiple blockchain protocols may be treated as fungible and the  equivalent of each other, without regard to (a) whether any form of such Digital Asset is wrapped or (b) the  blockchain protocol on which any form of such Digital Asset is stored.  

Funding Methods  

We may permit you to make a payment associated with the Services (including a Deposit, Issuance, or  Trade) from your Financial Account(s) using a credit card or money transfer from your Financial Account  (e.g., a SWIFT transfer or Interac e-Transfer). If you make a payment using a money transfer or credit  card, you authorize us to debit your associated Financial Account automatically, but you acknowledge that  there may be a significant delay in crediting your Account with the amount debited (less any Fees), including delays due to third party financial institutions or payment processors. If you select a credit card  or wallet as your payment method, and any transaction using such payment method falls on a weekend or  holiday or after business hours, the debit may be executed on a later business day, although the transaction  fees at the time of the regularly scheduled transaction will apply. If your payment method fails, we will  notify you that the transaction is canceled and may use the remedies set forth in these Terms to recover any  amount owed to us. Credit card payments and money transfers aren't controlled by us, and we aren’t liable  for any delay or rejection of any such payments or any other losses, fees, or charges associated with such  payments. Your use of money transfers or credit card payments may be subject to third-party terms between  you and the third party. We are not a party to such third-party terms and have no obligation or liability to  you under such third-party terms.  

If you set up a recurring credit card payment or a money transfer associated with our Services, including a  recurring Trade, you authorize us to execute any rejected payment again at a later time. Each attempted  execution is subject to the Fees set forth in these Terms. You authorize us to deduct Fees directly from any  assets in your Account without notice. We may require that your Account has sufficient funds to cover, at  a 1:1 ratio, any payments using credit card or money transfers for 120 days post deposit (“Unsecured  Deposit Hold”). You may not withdraw the funds associated with the Unsecured Deposit Hold prior to the  resolution of the Unsecured Deposit Hold.  

3. Withdrawals of Crypto & Redemptions of Fiat Balances  

You may be able to transfer Digital Assets from your Account (“Withdraw” or “Withdrawal”) or redeem  Fiat Balances into Fiat Currency deposited to a Financial Account approved by us (“Redeem” or  “Redemption”). At most, you can Withdraw the total amount of Digital Assets or Redeem Fiat Balances  in your Account, less any Fees associated with such Withdrawal or Redemption. You cannot make a  Withdrawal if the balance of Digital Assets or a Redemption if the Fiat Balance in your Account is less  than any minimum balance requirements, any amounts needed to satisfy any of your open positions, or any  Fees owed by you.  

When you request a Withdrawal or Redemption, you authorize us to remove the designated Digital Assets  from your Account, or direct the Designated Financial Institution to deliver the amount of Fiat Currency  for a requested Redemption to you (and to reduce the balance of Fiat Currency in your Account), in each  case less any Fees. A Withdrawal or Redemption may not be able to be completed partially or fully,  including because the Financial Account rejects your Digital Assets or Fiat Balance or the Financial  Account is unavailable. We will attempt to complete Withdrawals and Redemptions that can be completed,  whether partially or fully, within a reasonable time after your request, but we cannot guarantee Withdrawals  or Redemptions will be completed within any particular time. We aren’t responsible for any damages  resulting from rejected Withdrawals or Redemptions.  

Withdrawals and Redemptions may not be cancellable once initiated. All Withdrawals and Redemptions  are final and non-reversible once made, but you may be able to Deposit the withdrawn Digital Assets or  instruct an Issuance of a Fiat Balance in accordance with Section 2 (Deposits). We can, at any time and  without notice, reject any Withdrawal or Redemption or impose limits on any Withdrawal or Redemption  you can make (for example, in magnitude and frequency).  

We may, in our discretion, determine that it’s necessary or appropriate to suspend your ability to make  Withdrawals or Redemptions. We reserve the right to suspend your ability to make Withdrawals or  Redemptions altogether for an indeterminate amount of time to ensure, as determined in our sole discretion,  compliance with these terms or any legal, regulatory, or administrative obligation or guidance.

4. Trades  

Generally  

Our Services may allow you to trade through your Account:  

• a certain Digital Asset  for another Digital Asset,  
• a certain Digital Asset for a certain Fiat Balance, or  
• a certain Fiat Balance for a certain Digital Asset  
• a certain Fiat Balance for a certain other Fiat Balance (any of the foregoing, a “Trade”).  

The Digital Assets that may be available for Trades may change, without notice. See Section 7 for more  information. In addition, you may not be able to Trade certain Digital Assets for certain other  Digital Assets or Fiat Balances, and you may not be able to Trade Certain Fiat Balances for certain other  Fiat Balances or Digital Assets. See our website for more information.  

Please refer to our Trading Guide for more information regarding trading, including some important  terminology associated with trading. If you don’t understand everything in our Trading Guide or important  terminology around trading, don’t make any Trades.  

Execution  

See Section 2 (Deposits of Crypto and Issuance of Fiat Balances) for more information on funding your  Account with Digital Asset or Fiat Balances prior to making a Trade. To make a Trade, you must submit  an order through the Services (“Order”). Please see our Order Types page for a description of the various  types of Orders that our Services may permit you to make (“Order Types”). Certain Order Types may not  be available to you or may be subject to additional terms and conditions set forth in an Annex. We can  remove or change any Order Type at our discretion at any time. Order Types may be limited to certain  Digital Assets and not all Digital Assets may be the subject of a Trade for every Order Type.  

When you submit an Order, you authorize us to execute a transaction in accordance with such Order (and  the Order Type you choose, if applicable) and to charge you any applicable Fees (defined below). We  cannot guarantee any Order will trade at any particular exchange rate and the exchange rates that may be  used for your Order may differ from such rates provided by third parties. We aren’t responsible for  matching any third-party rates or providing you any particular rates. The actual rate at which an Order is  executed may be different from the current market exchange rate indicated by our Services at the time of  your Order, and we aren’t liable for any such difference or any price fluctuations of Digital Assets or Fiat  Balances. Any rate shown in our Platform is only valid during a specific period and may not be current. If  the Order Type you choose for an Order is set to execute only at a certain price or only if certain  contingencies are met (for example, a limit order), we can’t guarantee that such Order will ever be executed  in whole or in part.

We may provide you confirmation of Trades you successfully execute. If we don’t provide confirmation,  that doesn’t mean the Trade didn’t happen. Your account “History” page will reflect successfully executed  transactions. Proceeds from a successfully executed Trade will be credited to your Account, less any  applicable Fees, and the Digital Assets or Fiat Balances you traded for such proceeds will be removed from  your Account.

We may reject any Trade or other transaction at our sole discretion, whether confirmed by you or not, and  we aren’t liable to you for any rejection.  

Trades in which you enter an order with a specified trading pair and quantity after receiving a quote from  Kraken providing indicative trade terms and fees are filled by us on a principal basis.

Trades in which you submit limit or market buy and sell orders, including through Application  Programming Interface (API) access to the Kraken Platform, are executed by us on an agency basis, on  your behalf.  

Recurring and Custom Trades  

You may have the option to make Trades on a recurring or custom basis using our Service. If you elect to  make recurring or custom Trades, you authorize us to initiate recurring or custom electronic purchases or  sales using Digital Assets and Fiat Balances in accordance with your selections and using any of your  corresponding Financial Accounts, if applicable. Your authorization will remain effective until you change  your recurring or custom Trades settings in your account settings. Changes in your recurring or custom  Trades settings may take up to one day to become effective. You agree to keep your payment method  updated in your Account as long as you have recurring or custom Trades active or scheduled.  

Your recurring Trades will occur based on your period selection (e.g., daily, weekly, bi-weekly, monthly)  until canceled. Recurring Trades scheduled for the 29th, 30th, or 31st day of a month will be processed on  the earlier of the date scheduled or the last day of the applicable month. For example, recurring Trades  scheduled for the 31st will be processed on the 30th in April, June, September, and November. We may  attempt to execute your recurring Trade on the day that you select, but transaction times may vary. You  acknowledge that the amount of any Digital Asset you purchase or sell in each recurring Trade will depend  on the market price at the time of the Trade and will only be determined once the Trade is executed.  

While we will attempt to fulfill custom Trades at the chosen price once the custom Trade is triggered, there  is no guarantee that the order will execute at the price chosen in the custom Trade and the custom Trade  may not execute immediately after it is triggered.

We may reject or cancel a recurring or custom Trade (in whole or in part) for any reason. We aren’t liable  for any recurring or custom Trade or any failure to make a recurring or custom Trade (including any  rejection or cancellation of a recurring or custom Trade in whole or in part). You should regularly check  the status of your recurring and custom Trades. We won’t verify the information or details of your recurring  or custom Trades. You agree that the information and details of your recurring and custom Trades as  provided by you are accurate and complete and as such may be treated and acted upon by Kraken.  

We may, at any time and without liability, suspend or delay recurring or custom Trades (in whole or in  part) without notice or terminate recurring or custom Trades by providing notice to you, unless such notice  is prohibited by law.

You understand that applicable transaction fees and taxes may change. Details regarding current fees can  be found at our Fee Schedule under the Instant Buy/Sell tab. You are presented with the applicable fees  charged by us before entering into the transaction. Your confirmation of the transaction constitutes  agreement to pay all such applicable fees. You will not be charged any such fees in the unlikely event your  transaction is rejected. Your payment provider may charge additional fees in connection with your  transaction. You understand and agree that you are fully responsible for your payment providers’ fees for  all recurring and custom Trades.  

OTC Trades  

If You meet the relevant eligibility criteria, You may have the option to make over-the-counter Trades using  our Service (“OTC Services”). Any trades entered into in connection with the OTC Services are filled by us on a principal basis.

You may terminate your OTC Services engagement with us at any time by providing written notice  (email sufficient) if there are no outstanding transactions. Should you give notice while a transaction is  outstanding, your engagement will not be terminated until such transaction is complete. In accordance  with Section 16 below, we reserve the right, to temporarily or permanently, suspend the OTC Services,  including terminating any outstanding transactions, at our sole and absolute discretion at any time.  

You acknowledge and agree that, at the time you make use of any of the OTC Services with funds held on  the Kraken platform or in a third-party wallet, you have the legal right to control and manage such funds,  and such funds may not necessarily be owned by you but are free and clear of any liens and  encumbrances.  

You understand and agree that all fees associated with the OTC Services are disclosed prior to executing  an OTC transaction and are contained in the confirmation for your transaction. The fee may be in addition  to the quoted price and listed on the confirmation or the quoted price may be inclusive of all fees. There  are no exit fees associated with the OTC Services.  

Cancellation  

All Trades are final and non-refundable. All Orders are non-cancellable, including before or after we  execute a Trade, unless otherwise provided in these terms. In some circumstances, you may have the  opportunity to request cancellation of an Order before we execute the Trade, but we may refuse any  cancellation request at our sole discretion. If we fulfill such a cancellation request, that doesn’t mean we  will cancel future orders in the same or similar circumstances. If your Trade or other transaction is not  successful or your payment method does not have sufficient amount of Fiat Balance or Digital Assets to  complete the Trade or other transaction, you further authorize us, in our sole discretion, to cancel the Trade  or transaction or to use alternate Digital Assets and Fiat Currency in your account as necessary to complete  the transaction or resolve any resulting shortfall or negative balance, including to exchange Digital Assets  or Fiat Currency in your account for alternative types of Digital Assets or Fiat Currency and deduct any  applicable Fees and taxes.  

Errors  

In the event of an error, whether via our services or platforms, in a purchase order confirmation, in processing your purchase, in funding your account, in transferring Fiat Currency or Digital Assets to a  Financial Account, or any other transaction, we reserve the right, and you authorize us, to correct such error,  including by revising the transaction (including charging the correct price), canceling the transaction, or  taking any other action to resolve the error (including exchange Fiat Currency or Digital Assets in your account for alternative types of Fiat Currency or Digital Assets and deducting any applicable Fees and taxes  to correct the error).  

Insufficient Assets  

If you have an insufficient amount of Fiat Balance or Digital Assets in your Account to complete a Trade,  we may choose to cancel the entire Trade or fulfill a partial Trade using the amount of Fiat Balance or  Digital Assets currently available in your Account, less any Fees and taxes.

Restrictions  

We can, at any time and without notice (1) refuse to execute any Trade or Order at our sole discretion,  including if you don’t have sufficient Digital Assets or Fiat Balance held or reflected, as applicable,  in your Account and (2) impose limits on Trades (for example, limiting the number of open bids, offers, or  Orders or restricting Trades from certain locations).  

Availability  

While we employ measures to ensure that our Services are accessible 24 hours a day and 7 days a week,  including during periods of maintenance, high volatility and/or demand, we cannot guarantee uninterrupted  or error-free operation of our Services.  

5. On-Chain Staking  

In connection with our Services, you may have the option to contribute and earn rewards by participating  in our “On-Chain Staking Services” (defined below). On-Chain Staking Services include Bonded Staking  and Flexible Staking, as described below.  

The On-Chain Staking Services are a separate and distinct IT service, which means a general commercial  activity that is provided to you by means of a technical IT infrastructure and your fulfillment of all  applicable eligibility criteria. We may perform any or all of the On-Chain Staking Services directly or  through one or more service provider(s). Please refer to the resources provided on our Platform for more  information regarding On-Chain Staking Services.  

On-Chain Staking Services  

When you elect to stake a Digital Asset that is eligible for staking (each, a “Supported Token”), you  instruct us to stake all or a part of your holdings of such Supported Token. You retain ownership of each  Supported Token that is staked and each Supported Token remains your property when staked. The Section  of the Terms titled “Custody and Title of Digital Assets”, which applies to Digital Assets, also applies to  Supported Tokens when they are staked.  

Opting into On-Chain Staking Services & On-Chain Staking Reward Terms  

In order to use the On-Chain Staking Services, you must select the Supported Token to stake, and the  amount you wish to stake, from your Account. We will remit to you the applicable percentage of staking  rewards received from the Supported Token protocol attributable to your staked Supported Tokens  (“Staking Rewards”), provided that the applicable percentage and timing of such remittances will: (i) be determined by us in our sole discretion; (ii) be subject to our staking fee; (iii) vary based on the reward rate  prescribed by the Supported Token protocol; and (iv) vary based on whether you have elected to participate  in Bonded Staking or Flexible Staking. You understand and agree that we don't guarantee that you will  receive Staking Rewards and that the applicable percentage (i) is an estimate only and not guaranteed (and  that past Staking Rewards aren't indicative of expected future Staking Rewards), (ii) may change at any  time in our sole discretion, and (iii) may be more or less than the actual Staking Rewards we receive from  the Supported Token protocol. For all eligible stakeable assets, you understand and agree that we, in our  sole discretion, may limit the amount of assets that you are able to stake. For stakeable assets eligible for  Rewards, individual limits on staking will be updated from time to time and are viewable here. Your  Account will provide further details regarding the Staking Rewards attributable to your staked Supported  Token.  

Bonded Staking 

When you elect to participate in Bonded Staking, you are instructing us to commit all of your holdings in  the Supported Token that you have selected to stake on-chain to that Supported Token’s blockchain  protocol. After you elect to unstake, you won’t be able to access your tokens until the relevant unbonding  period has elapsed based on the blockchain protocol.  

Flexible Staking 

When you elect to participate in Flexible Staking, you are instructing us to commit all of your holdings in  the Supported Token to our staking program; however, we stake only a portion of the assets you select to  stake on-chain. We determine an appropriate portion of Supported Tokens to hold for the purpose of  maintaining a sufficient amount of Supported Tokens to satisfy unstaking requests from all Flexible Staking  users. Generally, this means that after you elect to unstake, you will be able to access your tokens  immediately without waiting for the unbonding period to elapse based on the relevant blockchain protocol.  In the unlikely event that you elect to unstake during a period when an insufficient amount of a particular  Supported Token is available to satisfy all unstaking requests from Flexible Staking users we reserve the  right, in our sole discretion, to delay the release of any of your remaining unstaked assets under the Flexible  Staking program after the relevant unbonding period has elapsed based on the blockchain protocol.  

Slashing Penalty  

A determination by the Supported Token protocol that the On-Chain Staking Service has been erroneously  operated may result in a “slashing penalty” (loss of staked Digital Assets) and non-payment of the  applicable Staking Rewards by the Supported Token protocol. We agree to compensate you for any such  penalties, unless the penalty is a result of (i) your act or omission, (ii) Supported Token maintenance, a bug,  or an error, (iii) an act by a malicious actor or hacker, (iv) a breach of these Terms, whether by you or any  other person or entity, or (v) a Force Majeure Event (defined below).  

No Guarantee of On-Chain Staking Services  

We cannot guarantee uninterrupted or error-free operation of the On-Chain Staking Services or that we will  correct all defects or prevent disruptions or unauthorized access. We may suspend or discontinue the On Chain Staking Services in our sole discretion at any time. In the event of any disruptions, suspension, or  discontinuance of the On-Chain Staking Services, any staked Supported Tokens may stop generating the  Staking Rewards and you may not receive any (and you may forfeit all) Staking Rewards whatsoever. The  decision as to whether and to what extent On-Chain-Staking Services are provided is at our sole discretion.

You hereby acknowledge and agree that we disclaim and have no responsibility for any loss, liability, or  damage you may incur, directly or indirectly, in connection with the On-Chain Staking Services, including  any loss, liability or damage arising directly or indirectly from: (a) your use of or inability to use the On Chain Staking Services; (b) any interruption, error, or defect of the On-Chain Staking Services; (c) any  third-party disruption of or unauthorized access to the On-Chain Staking Services; or (d) any suspension or  discontinuance of the On-Chain Staking Services.  

6. Layer 2 Transactions  

You may have the option to utilize “Layer 2” networks in connection with our Services. We make this  option available to you solely for your convenience and we don't require that you use a Layer 2 network.  We may, at our discretion, discontinue or change the ability of Layer 2 networks (or certain Layer 2  networks) to connect with our Services or Platform at any time. You are solely responsible for your selection  of and any use of a “Layer 2” network in connection with our Services and we make no representations,  warranties, or guarantees that any Layer 2 network will connect with our Services or Platform or that such  Layer 2 network will function or perform in accordance with your expectations. You are solely responsible  for, and you hereby consent, acknowledge and agree that we disclaim and have no responsibility for, any  loss, liability, or damage you may incur, directly or indirectly, as a result of your use of a Layer 2 network. 

7. Fees; Taxes

Our Fees  

You agree to pay us all applicable fees associated with your use of the Services (“Fees”), including fees for  Trades, Deposits, Issuances, Redemptions and Withdrawals. You authorize us, or our designated third party providers, to charge or deduct Fiat Balances or Digital Assets held or reflected, as applicable, from  your Account to cover any applicable Fees associated with your use of the Services. The relevant Fees are  shown in our Fee Schedule.  

Transactions using the Instant Buy/Sell Services are subject to fees and a spread that is included in the  transaction price. Applicable transaction fees and spreads may change. Our current fees can be found in the  Fee Schedule under the Instant Buy/Sell tab. Fees may differ depending on the selected payment method  (e.g. account balance, card, Interac). Spreads may be determined based on a combination of factors,  including market conditions, asset, order size, type of trade, participation in Kraken’s VIP program, and  trading and custodial activity. Spreads typically vary between 0%-1.5% of the trade amount, but may be up  to 3% in extreme conditions.  

Your payment provider may charge additional fees in conjunction with your transaction, however we do  not know the fees charged by your payment provider. You understand and agree that you are fully  responsible for your payment providers’ fees for all transactions.

We may change the fees and fee Schedule at any time, without notice. Changes to our fee Schedule are  effective as of the effective date shown on the fee Schedule, and changes will apply prospectively to your  use of the services.  

In the event we determine there are insufficient funds to pay any Fees, you hereby authorize us to sell  Digital Assets from your Account sufficient to pay any Fees due. In addition, to the extent Fees are required to be paid in a particular denomination of Fiat Currency, you authorize us to receive the proceeds of any  sale of Digital Assets in such denomination of Fiat Currency and/or to convert any Fiat Balance held in  your account to the required denomination. You are responsible for any and all additional Fees that may  be incurred to sell Digital Assets and/or convert Fiat Balance denominations in order for the Fees to be paid  to us.  

If you fail to pay Fees or any other amounts owed to us, interest will accrue on such unpaid amounts at the  greater of the rate of 18% per year, or the maximum amount allowed by law. In addition, we may refer  your outstanding amounts to a third party for collection, and we will charge you a collection fee of 18% of  the outstanding amounts due or the maximum percentage permitted by applicable law, to cover our  collection-related costs.  

Third-Party Fees  

Your use of the Services may also incur third-party fees, such as fees associated with your Financial  Account, or other fees, such as gas fees. You are solely responsible for paying all such fees.  

Taxes  

You alone are responsible for determining what taxes apply to your use of the Services, including for  Trades, Deposits, and Withdrawals, and for reporting and remitting the correct taxes to the appropriate tax  authorities. You agree that we have no responsibility or liability for determining what taxes apply or for  collecting, reporting, withholding, or remitting any taxes arising from any trades or transactions, unless  otherwise required by law.  

Notwithstanding anything herein to the contrary, we may withhold (or cause there to be withheld, as the  case may be) from any amounts otherwise due or payable to you such federal, national, provincial, local  income non-income, or other taxes as may be required to be withheld pursuant to any applicable law or  regulation of any jurisdiction or taxing authority. You authorize us, in our sole discretion and in lieu of a  separately stated tax amount, to increase any applicable Fees to account for taxes owed on a particular  transaction undertaken using our services.  

We are subject to various obligations imposed by the tax (and other) laws and supervisory authorities of  various jurisdictions. These obligations may require us to request additional information, documentation or  certifications from you and process certain personal data for identity verification, payment processing,  compliance with court orders, tax laws or other purposes not disclosed herein. Please refer to our Privacy  Notice for Information we may collect about you. These obligations may arise at various times, including,  but not limited to, client on-boarding, payment processing, and systemic checks for risk management, and  may change without notice. We reserve the right to lock, disable and close accounts as deemed necessary  by us in order to comply with any such legal and regulatory obligations now existing or hereinafter imposed.  

8. Supported Digital Assets and Fiat Currencies

The Digital Assets and Fiat Currency supported by our services are identified on our website (see  here for supported Digital Assets and here for supported Fiat Currency) and may  change at any time, without notice, in our sole discretion. Certain Digital Assets or Fiat Currencies  may not be available for a Trade, Deposit, Issuance, Withdrawal, or Redemption at all times. The  availability of Digital Assets or Fiat Currency for a Trade, Deposit, Issuance, Withdrawal, or Redemption on the Platform does not guarantee that such Digital Assets or Fiat Currency will be  available for a Trade, Deposit, Issuance, Withdrawal, or Redemption in the future. You are solely  responsible for monitoring which Digital Assets and Fiat Currency are supported by the Services. We  aren't  liable for discontinuation of support of any particular Digital Asset or Fiat Currency, even if you are  engaged in a time-sensitive Trade, Deposit, Issuance, Withdrawal, or Redemption. We reserve the right to  discontinue supporting any Digital Asset or Fiat Currency with or without notice. You acknowledge  and agree that we may take any action necessary to discontinue our support of a Digital Asset or Fiat  Currency, including but not limited to canceling your trade instructions and requiring you to remove  discontinued Digital Assets or Fiat Balances from your Account in a reasonable period of time, and  under no circumstances will we be liable to you for any direct or indirect losses, damages, or costs that you  may suffer in connection with any actions or inaction we may take in accordance with this Agreement to  discontinue our support of a Digital Asset or Fiat Currency.  

9. Content; Feedback  

Our Content. We or our licensors own (1) our Services and Platform, (2) all content, materials, software,  and trademarks found on them, (3) the selection and arrangement of them, and (4) all intellectual property  rights in them (collectively, “Our Content”). So long as you comply with these Terms, you are permitted  to use our Services, and Our Content made available to you as part of our Services, but only for your own  benefit. We can take away this permission at any time for any reason. You don’t have or acquire any rights  to Our Content beyond the limited, revocable permission in the previous sentence.  

Your Content. You may have the opportunity to transmit content or materials in or through our Services or  Platform (“Your Content”, excluding Personal Data as defined in our Privacy Notice). You grant us a  perpetual, irrevocable, royalty-free, worldwide, fully sublicensable, non-exclusive right and license to use  and exploit Your Content in any manner and for any purpose.  

Feedback. You may provide us feedback, suggestions, or ideas relating to our Services or Platform  (“Feedback”). You represent and warrant that you have the right to provide us any Feedback that you  provide. You agree that we will own all Feedback, and you hereby irrevocably assign all right, title, and  interest in and to all Feedback to us.  

Waiver of Moral Rights. You irrevocably waive and agree never to assert, to the greatest extent permitted by law, all of your moral rights whatsoever in your Feedback and Your Content, including any right to  the integrity of any your Feedback and Your Content, any right to be associated with any your Feedback  and Your Content, and any right to restrict or prevent the modification or use, of any of your Feedback  or Your Content in any way whatsoever.  

Other Content and Services. When using our Services or Platform, you may come across links to third party content, or you may have the opportunity to use third-party services in connection with our Services  or Platform. We don’t control or endorse any third-party content or services and aren’t liable to you for  third-party content or services in any way. Your use of third-party content or services may be subject to  additional terms and conditions with third-party providers, and we aren't part of those terms or conditions.  For example, we use Google’s Places API to mitigate errors in account address records during account  creation, which may delay account creation and verification. Your use of Google’s Places API during  account creation is subject to Google’s Terms of Service and Google’s Privacy Policy. If any third-party  terms and conditions conflict with these Terms, you agree that these Terms control.

10. Restrictions  

You won’t:  

• use Our Content to engage in, pay for, or support any illegal, fraudulent, deceptive, or manipulative  conduct, including illegal gambling activities, money-laundering, or terrorist activities,  
• use Our Content in any way or for any purpose that infringes, misappropriates, or otherwise violates  any intellectual property rights or other rights of us or any third party, or applicable local,  provincial, or federal law or regulation, or that is prohibited by these Terms,  
• remove, delete, alter, or obscure any trademarks, specifications, warranties, or disclaimers, or any  intellectual property or proprietary rights notices from Our Content,  
• use, export, reexport or transfer any of Our Content for any purpose prohibited by Canadian or  local export or import control laws and regulations,  
• copy, modify, disassemble, decompile, or reverse engineer Our Content (except to the extent such  restrictions are prohibited by applicable law),  
• use (except as expressly permitted in these Terms), license, sublicense, sell, resell, transfer, assign,  distribute or otherwise commercially exploit or make available to any third party Our Content in  any way,  
• take any action or use Our Content in any manner that could damage, destroy, disrupt, disable,  impair, overburden, or otherwise impede or harm in any manner Our Content, or interfere with any  other party’s use of Our Content,  
• disrupt, interfere with, violate the security of, or attempt to gain unauthorized access to Our Content  or any computer network,  
• bypass, breach, avoid, remove, deactivate, impair, descramble, or otherwise circumvent any  security device, protection, or technological measure implemented by us or any of our service  providers to protect Our Content,  
• use any device, software, or routine that interferes with the function of Our Content or transmit in  or through Our Content, or use in connection with Our Content, any virus, trojan horse, worm,  backdoor, time bomb, malware, or other software or hardware devices designed to permit  unauthorized access to, or disable, erase, or otherwise harm, any computer, systems, or software,  
• access or use Our Content to build or support products or services competitive to our products or  services,  
• use any web scraping, web harvesting, or data extraction methods to extract any data from Our  Content,  
• create, use, operate, or employ any bots, robots, parsers, spiders, scripts, programs, routines, or any  other forms of automation to engage in any activity on Our Content,  

• develop any third-party applications that interact with Our Content without our prior written  consent,  
• use or attempt to use another user’s Account without authorization,  
• use or attempt to use Our Content for any person other than yourself,  
• allow access to your Account to any person other than yourself,  
• provide false, inaccurate, or misleading information in connection with your use of or access to  Our Content, or  
• encourage, permit, or enable any other person or entity to do any of the foregoing.

In addition, not all of our Services are available on every Platform or in every location. You won’t attempt  to access any Services that are unavailable in your location.  

11. Risks  

There are substantial risks associated with using our Services, including conducting Trades. You should  carefully consider whether using our Services is suitable for you in light of your circumstances, knowledge,  and financial resources. These risks can be found on our Legal Disclosures page, which is incorporated  into these Terms by reference, however the list of risks is not complete and cannot list all risks associated  with your use of the Services.  

You acknowledge and agree that your access to and use of the Services, including conducting Trades, is at  your own risk, and that we aren’t liable to you for any losses you incur arising from such risks.  

12. Disclaimer of Warranties  

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, OUR SERVICES AND  PLATFORMS ARE PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS. WE AND OUR  AFFILIATES EXPRESSLY DISCLAIM ALL WARRANTIES OF ANY KIND, WHETHER EXPRESS  OR IMPLIED, INCLUDING IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A  PARTICULAR PURPOSE, TITLE, AND NON-INFRINGEMENT RELATING TO OUR SERVICES  AND PLATFORMS. WITHOUT LIMITING THE FOREGOING, WE DISCLAIM THAT OUR  SERVICES OR PLATFORMS WILL BE AVAILABLE, ACCURATE, SECURE, USEFUL,  UNINTERRUPTED OR ERROR-FREE; THAT DEFECTS WITH OUR SERVICES OR PLATFORMS  CAN OR WILL BE CORRECTED, OR THAT THE SERVERS THAT MAKE THEM AVAILABLE ARE  FREE FROM VIRUSES OR OTHER HARMFUL COMPONENTS. WE DO NOT PROVIDE ANY  UPTIME GUARANTEES, AND WE MAY DISCONTINUE MAKING OUR SERVICES OR  PLATFORMS AVAILABLE TO YOU AT ANY TIME AT OUR SOLE DISCRETION.  

13. Limitations on Liability

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, NEITHER WE, OUR  AFFILIATES, NOR OUR OR OUR AFFILIATES’ OFFICERS, DIRECTORS, MEMBERS,  EMPLOYEES OR AGENTS WILL BE LIABLE WITH RESPECT TO ANY CLAIM, WHETHER IN  CONTRACT, TORT (INCLUDING NEGLIGENCE), OR OTHERWISE, RELATED IN ANY WAY TO  THESE TERMS, OUR SERVICES OR OUR PLATFORMS FOR (1) ANY INDIRECT, INCIDENTAL,  SPECIAL, CONSEQUENTIAL, OR EXEMPLARY DAMAGES, INCLUDING DAMAGES FOR LOSS  OF PROFITS, GOODWILL, USE, OR DATA AND (2) TO THE EXTENT NOT ALREADY  EXCLUDED, ANY AMOUNTS EXCEEDING $100 CANADIAN DOLLARS.  

14. Indemnification  

You agree to defend, indemnify, and hold harmless us, our affiliates, and our or our affiliates’ officers,  directors, members, employees, and agents, from any claim, demand, action, damage, loss, cost, or expense  (including reasonable attorneys’ fees) relating to (1) your use of our Services or Platform, (2) your violation  of these Terms, (3) your infringement, misappropriation, or violation of the rights of any other person or  entity, (4) any content, materials, or information (in any form or medium) that you submit, post, upload,  provide, contribute, or make available (or authorize or instruct us to do so) through the Services or Platform,  and (5) any Feedback. If you are obligated to indemnify us, we have the right to control any action if we  want and you cannot settle any action without our consent, unless the settlement is only for money damages  which you entirely pay.  

15. Dispute Resolution; Applicable Law  

You and Kraken agree to notify each other in writing of any dispute arising from, connected with, or  relating to these Terms or your use of the Services within 30 days of when it arises. Notice to Kraken  must be sent to [email protected]. You and Kraken further agree to attempt informal resolution  prior to any formal demand or legal proceeding.  

Kraken is a member of the Ombudsman for Banking Services and Investment (OBSI). For any disputes or  matters arising from, connected with, or relating to these Terms or your use of the Services that is not  resolved informally via the process described above, you have access to the OBSI dispute resolution  mechanism at no cost for claims up to $350,000 CAD, subject to the complaint process described in  National Instrument 31-103. For all claims, whether or not the dispute is subject to the OBSI-resolution  process, you submit to exclusive jurisdiction by the provincial and federal courts located in the City of  Toronto, Ontario, and to the laws of the Province of Ontario and applicable Canadian law, without giving  effect to any conflict of laws principles that may provide for the application of the law of another  jurisdiction. Whether the dispute is heard by OBSI or in court or in any other venue, you and Kraken will  not commence against the other a class action, class arbitration or representative action or proceeding.  

16. Suspension; Termination; Discontinuance

We can, at any time and without liability or prior notice to you:  

• modify or discontinue our Services or Platform (or any parts of them),
• suspend, restrict, or terminate your access to our Services or Platform,  
• suspend, restrict, or delete your Account, any information related to your account, or any content  you post to the Services or Platform, or  
• reject any Deposit, Withdrawal, Trade, or other transaction or use of the Service.

If we terminate your Account, we will contact you to return any Digital Assets in your Account to  you and/or will instruct any Designated Financial Institution to Redeem your Fiat Balances, except in each  case if you owe us any Fees or if we believe you have committed fraud, negligence, or other misconduct.  If you are inactive for a protracted period and we are unable to return any Digital Assets or Redeem  Fiat Balances in your Account to your designated Financial Account, then we may be required to report  and remit such Digital Assets and Fiat Balances in accordance with any applicable provincial  unclaimed property laws. Provincial unclaimed property law may require liquidation of the Digital Assets   held in your Account.  

17. Legal Disclosures  

We are required by law to make certain disclosures in connection with our Services and Platform. These  legal disclosures can be found on our Legal Disclosures page, which is incorporated into these Terms by  reference. Certain legal disclosures may be jurisdiction-specific. You acknowledge that you have read,  understand, and agree to the legal disclosures applicable to you.  

We maintain licenses and registrations in certain jurisdictions to provide you our Services. These licenses  or registrations may impact our provision and your use of our Services depending on where you live or are  domiciled. Our Legal Disclosures page contains information on such licenses (or lack thereof) to the extent  required by certain jurisdictions.  

18. Personal Data  

Please read our Privacy Notice for information about how we collect, use, and share your personal  information. Our Privacy Notice is incorporated into these Terms by reference.  

19. Notices  

You agree that we may electronically provide you all communications, agreements, documents, receipts,  notices, tax forms, and disclosures (“Communications”) in connection with your Account or use of our  Services. You agree that we may provide Communications to you by posting them on our Services or  Platform, by emailing them to you at the email address you provide, or by sending an SMS or text message  to a mobile phone number that you provide. Your carrier’s normal messaging, data, and other rates and  fees may apply to any mobile Communications you should retain copies of all Communications for your  records.  

To access and retain electronic Communications, you will need a computer with an Internet connection that  has a current web browser with cookies enabled and sufficient storage space, 128-bit encryption, and a current and valid email address and mobile phone number on file with us. For certain Communications,  such as tax forms we will need to send to you, you will also need software to view PDF files.  

You may withdraw your consent to receive electronic Communications by sending a withdrawal notice to  https://support.kraken.com. If you do, we may suspend or terminate your use of our Services. Any  withdrawal of consent to receive electronic Communications will act as your affirmation that your street  address on file with us is current, and any Communications we are required to provide to you may be sent  in paper form to that physical address.  

If you would like a paper copy of any Communication, you may request one within 30 days after we  provided it to you electronically by contacting our support at https://support.kraken.com. For us to send  paper copies to you, you must have a current street address on file with us. Any request for a paper copy of  a Communication is limited to that individual piece of Communication and won’t affect your consent to  receive all other Communications electronically. We may charge you fees for any paper copies of  Communications.  

You are solely responsible for keeping your email address, mobile phone number, and street address on file  with us up to date. You can update your email address, mobile phone number or street address at any time  by logging into your Account or by sending such information to https://support.kraken.com. If we send  you a Communication but you don’t receive it because such information is incorrect, our ability to contact  you at the email address or mobile phone number is blocked by your service provider, or you are otherwise  unable to receive electronic Communications, we will be deemed to have provided the Communication to  you whether or not you actually received it. If you use a spam filter that blocks or reroutes emails, you  must add us to your email address book so that you can receive Communications.  

If your email address or mobile phone number becomes invalid such that electronic Communications sent  to you by us are returned, we may deem your account to be inactive, and you may not be able to use our  Services until we receive a valid, working email address or mobile phone number from you.  

20. General  

Force Majeure  

We aren't responsible or liable for any error, delay, loss, or damage arising from any event beyond our  reasonable control (each, a “Force Majeure Event”). Force Majeure Events include flood, extraordinary  weather conditions, earthquake, or other act of God, fire, war, insurrection, riot, labor dispute, accident,  action of government, communications, power failure, or equipment or software malfunction.  

Waiver  

If we don’t exercise a right under these Terms, we aren't waiving such right.  

Enforceability  

If any provision of these Terms is invalid or unenforceable, such provision will be deemed severed from  these Terms, but such invalidity or unenforceability won’t affect any other part of these Terms and the rest  of these Terms will remain in full force and effect; provided, however, that if any such invalid or unenforceable provision can be modified so as to be valid and enforceable as a matter of law, then such  provision is not deemed severed from these Terms and instead is deemed to have been modified so as to be  valid and enforceable to the maximum extent permitted by law.  

Assignment  

You cannot assign or transfer any right or obligation under these Terms without our prior written consent.  We can assign or transfer any right or obligation under these Terms, in whole or in part, without your  consent, subject to compliance with applicable securities law. In addition, if we are acquired by or merged  with a third party entity, we reserve the right to transfer or assign the information we’ve collected from you  as part of such merger, acquisition, sale, or other change of control.  

Interpretation  

In these Terms, (1) “or” is inclusive, (2) “including” or “such as” aren’t words of limitation, (3) headings  are only for your convenience, (4) unless otherwise indicated, a section reference in the main body of these  Terms is a reference to a section in the main body of these Terms, (5) unless otherwise indicated, a section  reference in an Annex is a reference to a section in such Annex, and (6) the “Summary of Kraken.com  Canadian Terms of Service” and any definitions provided only for informational purposes are provided  only for your convenience, is not legally binding, and does not affect the interpretation of these Terms,.  

Relationship  

We don’t provide investment or tax advice, including in connection with your use of the Services. You  agree not to rely upon any statement or content on our Services or Platform, or that is otherwise attributed  to us, as a recommendation, advice, or guidance regarding trades, investments, tax, or any other similar  issues. We also aren't acting as your bank, broker, intermediary, agent, advisor, or as your fiduciary in any  capacity, including with respect to the Services.  

Nothing in these Terms will be deemed to or is intended to be deemed to, nor will it, cause you and us to  be treated as partners, joint venturers, or otherwise as joint associates for profit.  

Survival  

If these Terms expire or terminate, the following Sections will remain fully binding upon you and us: 1, 2,  5, 7, 9, 10, 11, 12, 13, 14, 15, 17, 18 and 19, each in its entirety. Termination  won’t limit any of our rights or remedies at law or equity.  

Entire Agreement  

These Terms are the entire agreement between you and us, and supersede all prior and contemporaneous  understandings between you and us about our Services and Platform. These Terms include all applicable  Annexes hereto.  

21. Definitions

In addition to the capitalized terms defined throughout these Terms, the following terms have the following  meanings:  

“Account” has the meaning set forth in Section 1. For your information, that section defines “Account” as  an account you create with us.  

“Canadian AML and Sanctions Legislation” has the meaning set forth in Section 1.  

“Communications” has the meaning set forth in Section 19. For your information, that section defines  “Communications” as communications, agreements, documents, receipts, notices, tax forms, and  disclosures that we may provide to you.  

“Conditions” has the meaning set forth in Section 2. For your information, that section defines  “Conditions” as certain minimum conditions you must meet to use any of our Services or to create an  Account.  

“Crypto Custodian” means Anchorage Digital Bank, a custodian that we have designated to custody  Digital Assets that you hold in your Account for use in connection with any of our Services in accordance  with regulatory requirements. Payward will hold crypto assets for you with the Crypto Custodian in a  designated trust account.  

“Deposit” has the meaning set forth in Section 3. For your information, that section defines “Deposit” as  to deposit Digital Assets into your Account.  

“Designated Financial Institution” means a financial institution that we have designated to custody Fiat  Currency that you hold in your Account for use in connection with any of our Services.  

“Digital Asset” means any digital currency or other digital asset that is available in connection with our  Services.

“Feedback” has the meaning set forth in Section 9. For your information, that section defines “Feedback”  as feedback, suggestions, or ideas that you provide us relating to our Services or Platform.  

“Fees” has the meaning set forth in Section 7. For your information, that section defines “Fees” as all  applicable fees associated with your use of the Services.  

“Fiat Balance” means the value of Fiat Currency reflected in your Account which has been deposited in a  Designated Financial Institution and reconciled periodically based on your use of the Services and  applicable Fees.  

“Fiat Currency” means government-issued currency that is not backed by a commodity, including but not  limited to Canadian Dollars, U.S. Dollars, and Euro, and that is available in connection with our Services.  

“Financial Account” has the meaning set forth in Section 3. For your information, that section defines  “Financial Account” as a financial account or wallet maintained outside the Services, of which you are the  actual or beneficial owner.

“Force Majeure Event” has the meaning set forth in Section 20. For your information, that section defines  a “Force Majeure Event” as an event beyond our reasonable control.  

“Issue” or “Issuance” has the meaning set forth in Section 2. For your information, that section defines  “Issuance” as being issued a Fiat Balance in your Account after deposit of Fiat Currency with a Designated  Financial Institution.  

“Order” has the meaning set forth in Section 4. For your information, that section defines “Order” as an  order you submit through our Services.  

“Order Type” has the meaning set forth in Section 4. For your information, that section defines an“Order  Type” as one of the various types of Orders that our Services may permit you to make.  

“Our Content” has the meaning set forth in Section 9. For your information, that section defines “Our  Content” as collectively (1) our Services and Platform, (2) all content, materials, software, and trademarks  found on them, (3) the selection and arrangement of them, and (4) all intellectual property rights in them.  

“Platform” has the meaning set forth in the preamble to these Terms. For your information, the preamble  defines “Platform” as our websites (including kraken.com and pro.kraken.com), and mobile applications  through which you access our Services.  

“Redeem” or “Redemption” has the meaning set forth in Section 3. For your information, that section  defines “Redeem” or “Redemption” as redeeming a Fiat Balance into a Fiat Currency deposited into a  Financial Account approved by us.  

“Services” has the meaning set forth in the preamble to these Terms. For your information, the preamble  defines “Services” as our services, as well as the services set forth in Annexes hereto.  

“Terms” has the meaning set forth in the preamble to these Terms. For your information, the preamble  defines “Terms” as these Canadian Terms of Service, including all Annexes hereto.  

“Trade” has the meaning set forth in Section 4. For your information, that section defines “Trade” as a  trade, through your Account, of any of the following (1) a certain Digital Asset  for another Digital  Asset, (2) a certain Digital Asset for a certain Fiat Currency, or (3) a certain Fiat Currency for a  certain Digital Asset, or (4) a certain Fiat Currency for a certain other Fiat Currency.  

“Unsecured Deposit Hold” has the meaning set forth in Section 2. For your information, that section  defines “Unsecured Deposit Hold” as an amount of funds in your Account sufficient to cover, at a 1:1 ratio,  any payments using a money transfer from your Financial Account (e.g. a SWIFT or Interac e-Transfer) or  credit card for 120 days post deposit.  

“we”, “us”, “our”, “Kraken”, or “Payward” have the meanings set forth in the preamble to these Terms.  See the preamble for more information.  

“Withdraw” or “Withdrawal” has the meaning set forth in Section 3. For your information, that section  defines “Withdraw” or “Withdrawal” as your transfer of Digital Assets from your Account to a Financial  Account approved by us.

“You” has the meaning set forth in the preamble. For your information, the preamble defines “you” as the  individual, or entity acting through an authorized individual, who is bound by these Terms of Service.  

“Your Content” has the meaning set forth in Section 9. For your information, that section defines “your  Content” as content and materials you transmit in or through our Services or Platform, excluding Personal  Data as defined in our Privacy Notice.

Kraken Pay

This Annex A (this “Kraken Pay Annex”) incorporates by reference and supplements the Kraken.com Terms of Service (excluding all Annexes thereto, “Terms”) as if the entirety of the Terms were set forth in this Kraken Pay Annex. Capitalized terms used but not defined in this Kraken Pay Annex have the meanings given to them elsewhere in the Terms. In the event of a conflict between the Terms and this Kraken Pay Annex, the terms of this Kraken Pay Annex will control solely to the extent of the conflict and solely with respect to the subject matter of this Kraken Pay Annex.

We may provide you the option to send or receive certain Digital Assets and/or Fiat Currency to or from other eligible Kraken users on the Platform (the “Kraken Pay Service”) for personal use, subject to these Terms and your fulfillment of all applicable eligibility criteria.

WE MAKE NO REPRESENTATION OR WARRANTY THAT THE Kraken Pay SERVICE IS APPROPRIATE FOR USE IN ALL LOCATIONS, OR THAT THE TRANSACTIONS AND SERVICES DESCRIBED HEREIN ARE AVAILABLE OR APPROPRIATE FOR ENTRY INTO OR USE IN ALL JURISDICTIONS OR BY ALL PARTIES. YOU SHOULD INFORM YOURSELF AS TO THE LEGAL REQUIREMENTS AND TAX CONSEQUENCES OF USING THE  Kraken Pay SERVICE WITHIN ALL JURISDICTIONS APPLICABLE TO YOU. WE ARE NOT RESPONSIBLE FOR TAX CONSEQUENCES TO YOU OF PARTICIPATING IN THE  Kraken Pay SERVICE.

Eligibility

You may only use the Kraken Pay Service if (i) you fulfill the eligibility criteria of the Terms and (ii) your use of the Kraken Pay Service is not prohibited by applicable laws or regulations of the jurisdiction of your residence. You may only use the Kraken Pay Service for personal use and transfers to third parties may not be to any provider or merchant for goods, services, rents, or royalties. We reserve the right to impose additional eligibility criteria on your use of the Kraken Pay Service.

The Kraken Pay Service will only be offered in select jurisdictions at Kraken’s sole discretion and is subject to change or discontinuation at any time. Please note that in some jurisdictions the Kraken Pay Service may be available for Digital Asset transfers only.

• Sending Digital Assets and/or Fiat Currency Using the Kraken Pay Service

Initiating a Kraken Payment

To initiate a transfer of Digital Assets or Fiat Currency through the Kraken Pay Service (a “Kraken Payment”), you (the “Sender”) may provide instructions to Kraken by designating (i) the type and amount of Digital Asset or Fiat Currency in your account that you wish to transfer, and (ii)  the intended recipient of the transfer (the “Kraken Pay Instructions”). By submitting the Kraken Pay Instructions and confirming the transaction, you authorize us to transfer the designated Digital Assets or Fiat Currency to the recipient you have selected.

Identifying Digital Assets or Fiat Currency for Kraken Payment

To initiate a Kraken Payment, you must select the amount and type of Digital Asset or Fiat Currency you wish to transfer. You agree to have sufficient Digital Assets and/or Fiat Currency in your account prior to submitting your Kraken Pay Instructions. If the Digital Assets and/or Fiat Currency in your account are insufficient to cover the amount required for us to complete the Kraken Payment, you may select alternative Digital Assets and/or Fiat Currency in your account to Trade for the desired amount and type of Digital Asset or Fiat Currency you wish to transfer, which will be subject to applicable fees for the Instant Buy/Sell service.

You may only send Digital Assets and/or Fiat Currency to a Recipient if the Digital Asset and/or Fiat Currency is also available in the Recipient’s jurisdiction. We may decide to add or remove assets from the list of eligible Digital Assets or Fiat Currency available in any jurisdiction, including those available for Kraken Pay, at any time at our sole discretion. Additionally, your use of the Kraken Pay Service is subject to certain limits (for example, in the magnitude and/or frequency of Kraken Pay you may initiate within a specified period), which may change at any time.

Identifying a Recipient

You may designate another Kraken user by entering the Kraktag or email (if enabled) associated with the recipient’s Kraken account or by selecting the “Paylinks” feature, described below. You may only initiate a Kraken Payment to a Kraken account user who is eligible to use the Kraken Pay Service.

If you select Paylinks as your recipient, a payment link (“Paylink”) will be generated, which you may share with the intended recipient through your own chosen communication method. Once a Paylink has been generated, the Digital Assets and/or Fiat Currency you have selected for transfer will no longer be available in your account. While a recipient of the Paylink does not need a Kraken account to receive the Paylink, the recipient must create a Kraken account, pass identity verification, and otherwise be eligible to use the Kraken Pay Service in order to claim the Digital Assets or Fiat Currency you have designated for transfer through the Paylink.

A Paylink may only be redeemed once and expires after 14 days. If after 14 days the designated Digital Assets or Fiat Currency have not been successfully claimed through the Paylink, the Digital Assets or Fiat Currency will be returned to your account.

You are responsible for ensuring that the Paylink is sent to the intended recipient. Kraken does not verify the identity of the intended recipient and shall bear no liability or responsibility in the event an individual other than the intended recipient claims the Digital Assets or Fiat Currency sent via the Paylinks feature.

Kraken Payment Timing

You understand and agree that when you submit Kraken Pay Instructions and confirm the transaction, we will begin processing the transfer instruction immediately and the designated Digital Assets or Fiat Currency may leave your account as soon as you confirm the transaction. Title to any Digital Assets or Fiat Currency you send through the Kraken Pay Service will be transferred to the Recipient immediately following a successful transfer.  

You should verify all transaction information prior to submitting Kraken Pay Instructions as the transfer may not be canceled or reversed once it is processed unless we decide at our sole discretion that the transaction should be canceled or reversed and we have the technical capability to effect such a cancellation or reversal. You acknowledge that you are responsible for ensuring the accuracy of any Kraken Pay Instructions submitted to us and that any errors may result in the irreversible loss of your Digital Assets and/or Fiat Currency.

Pending Kraken Payments

Kraken Payments you initiate may have a “Pending” status displayed in your account (“Pending Kraken Payments”). These Pending Kraken Payments may remain in pending status for a certain period of time depending on various factors. The Pending Kraken Payments will either fail due to various reasons or eventually become a successful Kraken Payment.

Failed Kraken Payments

Kraken Payments may fail for a number of reasons. In the case of a failed Kraken Payment, you will be notified, and you may be able to reinitiate a Kraken Payment by submitting new Kraken Pay Instructions as outlined above. In the case of a failed Kraken Payment, the Digital Assets and/or Fiat Currency designated for transfer will remain in your account, and the Digital Assets and/or Fiat Currency will not be transferred to the Recipient.

Cancellation of Kraken Payments

All completed Kraken Payments are final and generally cannot be reversed. In some circumstances, you may have the opportunity to request cancellation of a Pending Kraken Payments, but we may refuse any cancellation request at our sole discretion. If we fulfill such a cancellation request, that does not mean we will cancel future Kraken Payments in the same or similar circumstances. Additionally, we may cancel or refuse to process any pending Kraken Payments as required by law or any court or other authority to which Kraken is subject in any jurisdiction.

Fees

There are no fees for using the Kraken Pay Service. Please note, however, that when you initiate a transfer of Digital Assets, any Fiat Currency equivalent value displayed by our services is indicative only.  The exchange rate between Fiat Currency and the Digital Asset indicated by our services may change between when you submit the Kraken Pay Instructions and when we execute those instructions. We are not liable for any fluctuations in the market value of the Digital Assets you designate for transfer.

Liability

You are solely responsible for your use of the Kraken Pay Service, and we make no representations, warranties, or guarantees that the Kraken Pay Services will function or perform in accordance with your expectations. You hereby acknowledge and agree that we disclaim and have no responsibility for any loss, liability, or damage you may incur, directly or indirectly, in connection with the Kraken Pay Services. You further agree that we shall not be liable for any delays in effectuating a Kraken Payment, or if we are unable to complete a Kraken Payment for any reason, including but not limited to, because of: (i) any direct or indirect actions taken by you, including providing inaccurate, or insufficient Kraken Pay Instructions, that result in a mistaken or accidental transfer; (ii) insufficient Digital Assets and/or Fiat Currency in your account to complete the transfer according to your Kraken Pay Instructions; (ii) any malfunction of the Kraken Pay Service due to circumstances beyond our control; or (iii) any suspension or discontinuance of the Kraken Pay Service.

Taxes

Sending or receiving Digital Assets may constitute a taxable transaction in certain situations.  You alone are responsible for determining whether your use of the Kraken Pay Service is subject to tax and for reporting and remitting the correct taxes to the appropriate tax authorities. You agree that we have no responsibility or liability for determining whether a transaction is subject to tax and what taxes apply or for collecting, reporting, withholding, or remitting any taxes arising from Kraken Payments, unless otherwise required by law.  Notwithstanding anything herein to the contrary, you acknowledge and accept that Kraken may have a legal obligation to make reports, and will make such reports as required, to the relevant tax authorities regarding Kraken Pay.

If you have any questions about your tax obligations, please consult with a tax professional for advice.