- Kraken operates in over 190 countries but with certain limitations and restrictions depending on local jurisdictions.
- In the USA, New York and Washington State residents are ineligible to create an account and start trading.
- Australian residents are not able to utilize Kraken's margin and futures services due to regulatory reasons.
What Countries Is Kraken Available In?
Kraken is one of the more popular cryptocurrency trading platforms that is known for its strong commitment to adhering to regulatory standards worldwide. However, the nature of Kraken's services can vary substantially depending on your geographical location. To illustrate, in certain jurisdictions, account creation is permitted, but the ability to stake crypto may be restricted. The table below shows the countries where Kraken is accessible and the features available to those regions.
|Countries||Region||Licensed & Registered By||Restrictions|
|United States||North America||Registered with FinCEN Supervised by the Wyoming Division of Banking||No access for New York and Washington State traders. Starter/express verification is only available for Texas and US territories. On-chain staking, cash-to-cash, Earn restrictions, Limited crypto.|
|Australia||Oceania||Registered with the Australian Transaction Reports and Analysis Centre (AUSTRAC)||Starter verification level restriction, no futures trading, no Opt-in Rewards, cannot trade DASH, XMR, ZEC.|
|Hong Kong||Asia||Not licensed in Hong Kong.||No Opt-In Rewards.|
|Singapore||Asia||Not licensed in Singapore||No Opt-In Rewards, no futures trading.|
|Spain||Europe||Not licensed but operates in all jurisdictions.||Futures trading is restricted.|
|United Kingdom||Europe||Regulated by the Financial Conduct Authority (FCA)||Opt-In Rewards, futures trading, XMR deposits/trades, starter verification are unavailable|
|Canada||North America||Registered with FINTRAC||Starter verification, margin and futures trading, Earn are not available. Limited crypto.|
|Italy||Europe||Registered with Organismo degli Agenti e dei Mediatori (OAM)||No futures trading.|
|United Arab Emirates||Asia||Registered with Financial Services Regulatory Authority (FSRA)||Opt-In Rewards are unavailable.|
What Countries Does Kraken Restrict?
Kraken exchange enjoys broad accessibility. However, the crypto exchange refrains from conducting operations in countries that have been blacklisted by the Office of Foreign Assets Control (OFAC), a United States Department of the Treasury division. These countries, including Afghanistan, Cuba, Iran, Iraq, Libya, North Korea, Venezuela, Yemen, Syria, and Lebanon, have been subjected to economic and trade sanctions by OFAC.
Additionally, the trading platform faces usage restrictions in the regions listed due to local regulatory constraints. Traders from these countries can open a Kraken account but cannot fund it:
- South Sudan
- Russia-Occupied Part of Ukraine (Crimea, Donetsk and Luhansk)
- Venezuela, and many others.
Which Countries Is Kraken Fully/Partially Regulated In?
Kraken is fully regulated in the United States under the Financial Crimes Enforcement Network (FinCEN). Similarly, in Canada, the exchange is registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). Kraken is also licensed in the following countries:
- Kraken UK is licensed by the Financial Conduct Authority (FCA) to offer leveraged, cash-settled futures contracts.
- The exchange operates in Italy as a Virtual Asset Service Provider (VASP) under the scrutiny of the Organismo degli Agentie dei Mediatori (OAM).
- Kraken operates in the UAE through the Abu Dhabi Global Market (ADGM) and in Australia, AUSTRAC (AUSTRAC) regulates the platform.
- However, the crypto exchange operates with partial licenses in countries such as Hong Kong, Singapore, Spain, and many more.
This limitation is due to the nascent crypto industry in these regions or regulatory constraints. Furthermore, partial regulatory frameworks have certain consequences, including limited access to services and decreased exposure to the market.
Can I Change Countries On Kraken?
You can update their country settings on the platform, provided their chosen country is not among the restricted or prohibited ones. However, you must update their registered address if they change their residing country to another or a different U.S. state/territory. To initiate this process:
- Log in to their account at support.kraken.com.
- You will be taken to the support page. From there, click on the ‘Contact Us’ tab at the platform's top right-hand side. Once the ‘Contact Us’ page opens, select the 'Get verified or change account info' option.
- From the 'Get verified or change account info' page, you must navigate to the ‘What type of issue are you experiencing’ box and select the ‘changing account info’ tab.
- Scroll down to select their account type and fill in more details about your request.
After Kraken responds to the request, you can attach a valid proof of address document for the new address. We also covered how long Kraken verification takes here.
What Countries Is Kraken Pro Available?
Kraken allows you to choose between three trading platforms, all accessible on the web and mobile devices – Kraken Classic, Kraken New, and Kraken Pro.
Kraken Pro, available to all Kraken account holders, stands out with competitive trading fees and a suite of advanced trading features like margin trading, Market, Limit, and Stop orders, an advanced interface, and more. As such, Kraken Pro is targeted at experienced traders, not newbies.
Which Countries Can You Margin Trade On Kraken?
Margin trading on Kraken allows you to trade cryptocurrencies such as Bitcoin cash with funds that exceed their account balance. However, margin trading services on Kraken are subject to specific geographical and eligibility constraints. These services are accessible to most Intermediate and Pro clients outside the United States.
For Intermediate and Pro clients in the United States and Canada, meeting additional eligibility criteria is necessary to qualify for margin trading. For instance, margin trading services are unavailable to Starter or Express clients. Aside from Kraken, read our review of the best margin trading platforms for alternatives.
Which Countries Can You Stake & Earn Interest On Kraken?
Kraken presently offers staking services to residents of all countries where it operates except those residing in the United States. The exchange also requires all traders to maintain a verified account up to the Intermediate level or higher to access on-chain staking.
Users in the supported regions can earn an impressive annual return of up to 26% by staking their cryptocurrency assets. The staking platform can be used to stake cryptocurrencies including Solana, Tezos, and numerous others.
Frequently Asked Questions
Kraken is available in over 190 countries, including the US, UK, Canada, Australia, Hong Kong, Switzerland, South Africa, Spain, the UAE, Italy, and others.
Yes, Kraken is available to all US residents. However, there are limitations to those who reside in Washington State and New York.
Kraken accepts fiat currencies in United States Dollars (USD), Euro (EUR), Canadian Dollars (CAD), British Pounds Sterling (GBP), Australian Dollars (AUD), and the Swiss Franc (CHF).
The Kraken cryptocurrency exchange has taken action to comply with European Union sanctions by imposing restrictions on the accounts of Russian users. However, Russian users can still request withdrawals of their funds.
Kraken is a prominent cryptocurrency exchange in the US known for its extensive trading features. It is accessible in more than 190 countries worldwide, encompassing supported regions like the United States, Canada, and numerous European nations.
However, there are still regions where the crypto exchange has full or partial restrictions due to local laws, global sanctions, and regulatory constraints. Nonetheless, the supported jurisdictions can keep trusting Kraken to deliver top-tier services.