Required Legal Notice: Virtual currencies, real risks. The only guarantee in crypto is risk. Read more

Required Legal Notice: Virtual currencies, real risks. The only guarantee in crypto is risk. Warning: The value of your virtual currencies can rise or fall sharply, and your initial investment may be lost completely; virtual currencies are not covered by the guarantee funds that cover bank deposits; there is no legal mechanism on the virtual currencies market to prevent market manipulation or insider dealing; virtual currencies depend entirely on a specific computer technology and infrastructure, which in certain cases may be very recent and not yet adequately tested; if one loses the identification code or password giving access to the virtual wallet in which the virtual currency is stored, the currency held therein will be irretrievably lost; virtual currencies are currently accepted as a means of payment to a limited extent, and in most countries there is no legal obligation to accept them; for more information about the risks associated with an investment in virtual currencies, we advise you to read the Wikifin page What is a cryptocurrency? | Wikifin.

Legal

Disclosures

Last updated: Aug 27, 2025

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

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

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

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

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

FURTHER DISCLOSURES RELATED TO LICENSES

DISCLOSURE FOR CLIENTS IN THE UNITED KINGDOM

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

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

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

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

DISCLOSURE FOR CLIENTS IN AUSTRALIA

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

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

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

KRAKEN DERIVATIVES - WHOLESALE AUSTRALIAN CLIENTS ONLY

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

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

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

DISCLOSURES FOR CLIENTS IN CANADA

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

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

DISCLOSURES FOR CLIENTS IN BELGIUM

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

DISCLOSURES FOR CLIENTS IN IRELAND FOR FIAT SERVICES

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

DISCLOSURES FOR CLIENTS IN NETHERLANDS

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

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

Not investment advice. Crypto trading involves risk of loss.

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

DISCLOSURES FOR CLIENTS IN GERMANY

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

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

DISCLOSURE FOR CLIENTS IN THE EUROPEAN UNION

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

US LICENSES, REGISTRATIONS, AND REGULATORY DISCLOSURES

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

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

Jurisdiction

License

State Agency

Alabama

Money Transmitter License

801

U.S. Money Transmitter Disclosures
Arizona	If you have a complaint, please contact Payward Financial, Inc. at 1-888-837-8818 and/or https://support.kraken.com/hc/en-us. If you still have an unresolved complaint regarding Payward Financial, Inc.’s money transmission activity, you may complete an Online Complaint Form as stated on the File a Complaint against a Financial Institution or Enterprise page. AZ e-Licensing Portal for filing a complaint AZDFI Consumer Complaint Portal: https://elicense.az.gov/ARDC_FileComplaint
Arkansas	If you have a complaint, please contact Payward Financial, Inc. at 1-888-837-8818 and/or https://support.kraken.com/hc/en-us. If you still have an unresolved complaint regarding Payward Financial, Inc.’s money transmission activity, you may file the completed complaint form by e-mailing [email protected] or by mailing at: 1 Commerce Way, Suite 402 Little Rock, Arkansas 72202 Telephone: (501) 324-9260 Facsimile: (501) 324-9268 For additional information please refer to the How To File A Complaint page for the Arkansas Securities Department.
Connecticut	If you have a complaint, please contact Payward Financial, Inc. at 1-888-837-8818 and/or https://support.kraken.com. If your concerns have not been addressed, please contact the state regulator listed below. Transaction Liability Kraken Custody is not liable for delays or failures to complete a virtual currency transaction caused by network congestion, blockchain conditions, or client-side error. Once a transaction has been broadcast to the blockchain, it is considered final and cannot be reversed. Kraken may be responsible only in cases of internal system failure. Refund Policy Virtual currency transactions are final and non-refundable. Kraken Custody does not issue refunds unless a verified technical error has occurred within its systems. Questions or Complaints If you have concerns about a transaction or our virtual currency services, please contact us at https://support.kraken.com. You may also contact the Connecticut Department of Banking at: Connecticut Department of Banking 260 Constitution Plaza Hartford, CT 06103 Phone: (860) 240‑8299 Email: [email protected] File a Connecticut Consumer Complaint To File a Connecticut Consumer Complaint: https://portal.ct.gov/DOB/Consumer/Consumer-Complaints/Online-eLicensing-Instructions
Iowa	If you have a complaint, please contact Payward Financial, Inc. at 1-888-837-8818 and/or https://support.kraken.com/hc/en-us. If your concerns have not been addressed, please contact the state regulator listed below: Iowa consumers with complaints or concerns can contact the department at: Iowa Division of Banking 200 E Grand Ave., #300, Des Moines, IA 50309 Phone: (515) 281-4014 To file an Iowa Consumer Complaint: https://www.idob.state.ia.us/public/contactInfo/contactForm.aspx?type=complaint
Mississippi	The Mississippi Department of Banking & Consumer Finance recommends that you attempt to resolve your complaint with the financial institution first by contacting Payward Financial, 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 Financial, 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/
New Mexico	New Mexico Residents: If your issue is unresolved by Payward Financial, Inc. please submit formal complaints with the State of New Mexico, Financial Institutions Division at (505) 476-4885 and on the website https://www.rld.nm.gov/financial-institutions/file-a-complaint/
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 Financial, Inc. 106 E. Lincolnway, 4th Floor Cheyenne, WY 82001
Pennsylvania	Pennsylvania Residents: If you have a complaint, please contact Payward Financial, Inc. Customer Service at 1-888-837-8818. If you still have an unresolved complaint regarding [licensee’s] money transmission activity, you may file it by contacting the Pennsylvania Department of Banking and Securities at the following address: Pennsylvania Department of Banking and Securities Market Square Plaza 17 N. Second Street, Suite 1300 Harrisburg, PA 17101 Toll-free in Pennsylvania 1.800.PA.BANKS (800.722.2657) Out of state: 717.787.1854 www.pa.gov/agencies/dobs.html
Rhode Island	Payward Financial, Inc. is licensed by the Rhode Island Department of Banking as a Money Transmitter. Virtual currency is not legal tender in the United States, is not backed by the United States government, and accounts and value balances are not subject to Federal Deposit Insurance Corporation or Securities Investor Protection Corporation protections.
South Carolina	If you have a complaint or concern about your transaction, please contact Payward Financial, Inc. at 1-888-837-8818 and/or https://support.kraken.com/hc/en-us. If you still have an unresolved complaint about Payward Financial, Inc, you may submit a complaint online at: https://tinyurl.com/2svj6rnf or contact the following: South Carolina, Office of the Attorney General Money Services Division Rembert C. Dennis Building 1000 Assembly Street Columbia, SC 29201 Phone: (803) 734-1221 E-mail: [email protected]

Disclosures

Alabama

Alaska

Arizona

Arkansas

Colorado

Connecticut

Delaware

District of Columbia

Florida

Georgia

Idaho

Illinois

Iowa

Kansas

Kentucky

Louisiana

Maryland

Michigan

Minnesota

Mississippi

Missouri

Nebraska

Nevada

New Hampshire

New Jersey

New Mexico

North Carolina

North Dakota

Ohio

Oklahoma

Oregon

Pennsylvania

Puerto Rico

Rhode Island

South Carolina

South Dakota

Tennessee

Texas

Utah

Vermont

Virginia

Washington

West Virginia

Wisconsin

Wyoming

Federal Disclosures

Consumer Financial Protection Bureau

Kraken Financial Disclosures