Kraken Platform Review
- Thread starter JohnLocke
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Well that's very interesting - I just logged in to Kraken and I am able to generate an XMR deposit address and if I search on XMR I do get one result which takes you to here:
https://www.kraken.com/c/explore/XMR
So if you can't find that page by searching on XMR while logged into Kraken then they must be doing some sort of selective blocking of XMR based on your IP or registration details. My account is registered out of Panama.
https://www.kraken.com/c/explore/XMR
So if you can't find that page by searching on XMR while logged into Kraken then they must be doing some sort of selective blocking of XMR based on your IP or registration details. My account is registered out of Panama.
I looked into it and found a Reddit thread where someone mentioned Monero on Kraken is indeed blocked in both the UK and Australia but as of now it is still available to users from other countries.
It's still available to individuals or companies out of Latin America, Asia and the Middle East but blocked for the UK, all of Europe, Australia and NZ, and I assume both the US and Canada have longed been blocked from XMR on Kraken.
In other words the five eyes countries and Europe, pretty much par for the course with anything privacy related.
In other words the five eyes countries and Europe, pretty much par for the course with anything privacy related.
Care to elaborate? Because as I stated, XMR on Kraken is still available to everyone except people in those countries that I listed.
You can't use XMR in Europe with Kraken all blocked. I have tried with several business partners in different European countries to locate XMR in their accounts, it's not there.
If you still think you can find it in an European account I would like to know which country?
If you still think you can find it in an European account I would like to know which country?
No it is blocked throughout the EU, Kraken admitted they had to do that because there is no way for them to KYC XMR and that is required to remain compliant in the EU.
XMR on Kraken is still available to Latin America and Asia. I looked around for a complete︀ list but couldn't find one.
XMR on Kraken is still available to Latin America and Asia. I looked around for a complete︀ list but couldn't find one.
Since June 23, 2025, Kraken has implemented new requirements for business accounts, aligning with the strictest EMI (Electronic Money Institution) regulations. These regulations include comprehensive Anti-Money Laundering (AML), Know Your Customer (KYC), and Due Diligence (DD) procedures, which significantly impact how businesses can establish and maintain their accounts. As a result, many accounts have been blocked or frozen, with Kraken now closely scrutinizing businesses for full compliance with these rules.
With the introduction of these strict standards, it is no longer possible to simply create a Kraken business account. The process now mirrors the regulatory requirements faced by financial institutions.
Only businesses with completely transparent︀ and compliant operations are likely to successfully operate within Kraken's system. Those with any history︁ of incomplete documentation or non-compliance are facing heightened scrutiny, making it extremely difficult to maintain︂ an account without a fully compliant setup.
The following are some of the specific requirements︃ Kraken is now enforcing:
As a result, businesses looking to maintain accounts with Kraken must meet a︆ much higher standard of transparency.
This means that only businesses with a clean track record︇ and full compliance with these regulations will be able to operate smoothly. For those with︈ incomplete documentation or irregularities in their business structure, Kraken's new policies may make it difficult,︉ if not impossible, to maintain an account.
In conclusion, Kraken’s implementation of the strictest EMI︊ regulations marks a significant shift in how business accounts are managed on the platform. Moving︋ forward, businesses that wish to operate with Kraken must ensure they have a spotless record︌ and meet all required compliance standards.
Those that fail to meet these standards will find︍ it increasingly difficult to maintain their accounts. The new AML, KYC, and DD regulations serve︎ as a clear signal that only businesses with transparent, compliant operations will be able to️ succeed on Kraken’s platform.
With the introduction of these strict standards, it is no longer possible to simply create a Kraken business account. The process now mirrors the regulatory requirements faced by financial institutions.
Only businesses with completely transparent︀ and compliant operations are likely to successfully operate within Kraken's system. Those with any history︁ of incomplete documentation or non-compliance are facing heightened scrutiny, making it extremely difficult to maintain︂ an account without a fully compliant setup.
The following are some of the specific requirements︃ Kraken is now enforcing:
- Business and Industry Information:
Kraken requires detailed clarification on the services︄ provided by the business and the industry it operates in. Businesses must explain the nature︅ of their services, target client base, and geographic locations. This information is essential for Kraken︆ to assess whether the business fits within approved categories under their compliance framework.
- Proof of︇ Business Address:
Kraken requests documentation that proves both the registered and operational addresses of the︈ business. This must be dated within the last 90 days and can include documents such︉ as bank statements, utility bills, or lease agreements. The address must match the registered location︊ provided by the company and must be verifiable through official records.
- Director and Ownership Information:︋
Kraken requires businesses to provide accurate and up-to-date information on company directors and ownership. This︌ includes confirming that the information listed on official company records, such as Companies House, matches︍ Kraken's records. If there are discrepancies in the director or Person with Significant Control (PSC),︎ Kraken will require updated share registry documentation or a Companies House registration extract, such as️ the IN01 or CS01 form, to verify share ownership and control.
- DBA (Doing Business As) Information:
If a business operates under a DBA name, Kraken will require official documentation proving the registration of that trade name with the relevant regulatory body. If the business does not have such documentation, Kraken may require the DBA to be removed from the account, and the account can only be funded under the official company name.
- Service and Supplier Information:
Kraken asks for more detailed information about the business's services, suppliers, and clients. This includes information on the countries where suppliers are located and the geographical areas in which︀ clients reside. Kraken also requests details about how the business attracts clients and any online︁ presence beyond the company's main website. This helps Kraken assess the business's operations and any︂ associated risks.
As a result, businesses looking to maintain accounts with Kraken must meet a︆ much higher standard of transparency.
This means that only businesses with a clean track record︇ and full compliance with these regulations will be able to operate smoothly. For those with︈ incomplete documentation or irregularities in their business structure, Kraken's new policies may make it difficult,︉ if not impossible, to maintain an account.
In conclusion, Kraken’s implementation of the strictest EMI︊ regulations marks a significant shift in how business accounts are managed on the platform. Moving︋ forward, businesses that wish to operate with Kraken must ensure they have a spotless record︌ and meet all required compliance standards.
Those that fail to meet these standards will find︍ it increasingly difficult to maintain their accounts. The new AML, KYC, and DD regulations serve︎ as a clear signal that only businesses with transparent, compliant operations will be able to️ succeed on Kraken’s platform.
I have used Kraken for years and found the really good and easy to use, so such so I never used Binance or other similar platforms but it seems no matter which one you are using they are now aligning themselves to comply with regulation in the face of compliance and pending legislation.
I received this email from the yesterday saying they were recently granted EMI licence citing that as the reason for updating their bank details.
I received this email from the yesterday saying they were recently granted EMI licence citing that as the reason for updating their bank details.
I’m quite sure that now the big checks are starting, they’ve prepared by having a group of people from Pakistan and India handling all these checks. They follow a set pattern, and if customers don’t answer exactly according to these forms, they’ll be stuck, and things will get messy.
I think it’s going to turn into a huge s**t show from now on.
I think it’s going to turn into a huge s**t show from now on.
That's absolutely right, the tango has already begun. We're in the process of getting our setup, which has been running with them for over 5 years, re approved.
Long response times to simple questions and pretty standard replies.
This is shaping up to be the same story as with every other EMI: lacking third world level support when it comes to verification.
Long response times to simple questions and pretty standard replies.
This is shaping up to be the same story as with every other EMI: lacking third world level support when it comes to verification.
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