Founded in 2011 with a user base exceeding 9 million across multiple countries, Kraken stands as a leading cryptocurrency exchange. In this guide, we present all countries where Kraken’s services are restricted. Additionally, we will share alternative platforms, ensuring users in restricted areas can still enjoy a smooth cryptocurrency experience.

Kraken Restricted & Banned Countries

Kraken imposes restrictions on users from specific countries due to regulatory considerations and international sanctions. The restricted countries include

• Crimea
• Cuba
• Donetsk
• Iran
• Luhansk
• North Korea
• Russia
• Belarus
• Syria
• Democratic Republic of Congo
• Libya
• Somalia
• South Sudan
• Sudan
• Yemen

Residents of these nations are unable to access Kraken’s cryptocurrency trading platform. These restrictions align with global compliance standards and legal frameworks to ensure a secure environment for users engaging in digital asset trading on the platform. Users need to be aware of these limitations based on their geographical location before attempting to use Kraken’s services.

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Kraken Supported Countries

Kraken supports users from various countries, including Hong Kong, Japan, Lebanon, Myanmar, Pakistan, Belgium, Ireland, Italy, Spain, and the United Kingdom. However, this list may not be exhaustive, and it’s advisable to check Kraken’s official website for the most up-to-date information on supported countries and any potential updates or changes.

The platform may periodically update its supported regions, so consulting their website ensures accurate and current details regarding country eligibility.

With strong reulatory standings in North America and Europe, Kraken is a widely accesible crypto exchange. Below you can see which registrations and licenses Kraken has secured.

• Money Service Business (MSB) license by FinCEN in the United States of America
• VASP registration from the Dutch Central Bank (DNB) for the European market.
• Financial Conduct Authority (FCA) registered cryptoasset firm as “Payward LTD” in the UK.

Is Kraken Available in the United States?

Kraken serves most clients in the United States and is registered as a Money Services Business with FinCEN through Payward Interactive, Inc. It also operates a Wyoming-chartered Special Purpose Depository Institution and a registered broker-dealer for equities. However, Kraken does not currently offer its core services to residents of New York or Maine, and some products come with extra state-level limits. These include staking, certain funding and transfer methods, xStocks, and access to selected cryptocurrencies and derivatives features.

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Can Kraken be Accessed Via VPN?

Using a VPN to access Kraken as a resident of a restricted area is strongly advised against due to potential serious consequences. Engaging in such actions may lead to strict legal penalties, including a 20-year imprisonment and a $250,000 fine as per U.S. regulations. It’s crucial to acknowledge and adhere to the legal framework of each country, considering potential legal issues before attempting to circumvent geographical restrictions. Prioritising compliance with laws is key to avoiding unintentional legal complications. You can only use Kraken with a VPN if you are in one of Krakens supported countries.

Kraken Alternatives

If your region restricts access to Kraken, it’s advisable to explore other cryptocurrency exchanges. In certain U.S. areas like New York where Kraken isn’t available, consider BYDFi, a licensed platform that welcomes U.S. customers. For more insights, refer to our BYDFI review.

Beyond the U.S., if Kraken is not an option, consider BTCC, known for low fees and substantial trading volume. Find additional details in our comprehensive BTCC review. Stay updated on platform availability for the latest information.

Bottom Line

When selecting a cryptocurrency exchange, it’s crucial to account for regional restrictions. If Kraken is limited in your location, exploring alternative platforms becomes necessary. U.S. users may find BYDFi’s licensed platform suitable, while globally, BTCC stands out as a strong option. Stay updated by referring to our comprehensive Kraken review for detailed insights into the platform’s features.

FAQs

1. Is Kraken available in the US?

Yes, Kraken is available for most US clients, but there are restrictions for residents of New York (NY) and Washington (WA). The platform provides a range of services to users across the United States, excluding those in NY and WA. Ensure you check with regional regulations before engaging with Kraken’s services in these specific states.

2. Is Kraken available in Canada?

Yes, Kraken is available in Canada for most services. However, certain restrictions may apply, including account verification, regulatory changes, earn restrictions, and cryptocurrency restrictions. It’s recommended to review the specific terms and conditions to ensure compliance with these limitations when using Kraken services in Canada.

3. Is Kraken available in the UK?

Yes, Kraken is available in the United Kingdom; however, certain services, such as Opt-In Rewards, futures trading, Kraken Rewards, and participation in the Kraken Referral Program, are restricted for clients in the UK due to new FCA regulations. For more details, visit the Changes for Clients Residing in the UK section on the Kraken website.

4. Does Kraken Require KYC?

Yes, Kraken requires Know Your Customer (KYC) verification for all new and existing clients in the European Economic Area (EEA). The KYC questionnaire is mandatory to access Kraken’s products and services, and completion is required for clients within the EEA. Non-compliance may limit access to the platform’s offerings.