Kraken is making changes to its margin-trading program beginning June 23, 2021:
- Kraken will no longer offer margin trading for U.S. clients who do not meet certain requirements (more information will be communicated via email to clients).
- Clients outside of the U.S. in the Starter tier must verify to the Intermediate tier to continue margin trading.
- Clients outside of the U.S. at the Intermediate and Pro verification levels will not be affected.
Why we’re making these changes
Kraken is making these changes in light of regulatory guidance about leveraged digital asset transactions.
What happens next
- Kraken will email U.S. clients and Starter tier clients currently trading on margin about these new restrictions.
- All Starter tier clients and U.S. clients who do not meet the additional requirements by June 23, 2021, will only be allowed to reduce existing margin position exposure.
- Any open margin positions that have not been closed out or settled by June 23, 2021 will expire 28 days after the time they were opened.
Please note that if you do not have open positions and do not wish to enter new margin trades, then you do not need to take any action.
For more information on the changes please log in to your Kraken account.
Kraken’s mission is to accelerate cryptocurrency adoption so everyone can achieve financial freedom and inclusion. We believe in common-sense regulations that protect market participants and do not restrict their freedom to purchase, sell, hold and use cryptocurrency. We will continue to advocate for that freedom.
Invest with caution
Before participating in Kraken’s margin program it’s important to do your own research and become familiar with the associated risks. We provide educational resources on our Learn Center, our own research and proprietary trading tools. You can read more about trading on margin on our support pages.