Kraken Supported and Restricted Countries

What Countries Does Kraken Restrict?

As of the latest data from Kraken’s official Prohibited Regions list and Terms of Service, the exchange restricts users from 14 countries and regions due to regulatory and compliance reasons.

Kraken prohibits services in Europe and Eurasia (Belarus, Russia, Crimea, Donetsk, and Luhansk regions of Ukraine), Asia (Afghanistan, Iran, Iraq, North Korea, Japan, Syria), Africa (Libya, Sudan, South Sudan, Democratic Republic of the Congo), and the Americas (Cuba).

Additionally, Kraken users may face limitations based on their location and verification level, affecting their ability to deposit or trade certain crypto assets. Some funding providers also impose their own restrictions, limiting fiat deposit options for specific regions.

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Kraken Supported Countries

Kraken is available in over 190 countries, making it one of the most globally accessible crypto exchanges. With a meticulous emphasis on compliance and security, the platform enables users to trade 360+ cryptocurrencies, while also supporting staking and futures trading in eligible regions.

According to Similarweb, Kraken receives 10.1 million monthly visits, with the United States (38.92%), United Kingdom (10.16%), Canada (7.99%), Germany (5.11%), and France (4.67%) being the top sources of traffic.

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Is Kraken Available in China?

Kraken is not legally available in China, but recent reports suggest that residents can access the exchange without a VPN (from both Hong Kong and mainland China), complete KYC verification using Chinese credentials, and process crypto withdrawals to overseas bank accounts.

This contradicts China’s 2021 Notice, which classifies all virtual currency-related business activities, including services from foreign exchanges, as illegal financial activities. Kraken also provides Chinese language support, making it easier for users to use the platform.

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What Currencies Does Kraken Support?

Kraken supports seven fiat currencies, allowing users to deposit and withdraw funds through multiple methods, including bank transfers, PayPal, and instant payment systems:

• USD (US Dollar): Deposits via ACH (Plaid), FedWire (Dart Bank & Etana Connect), SWIFT, CBIT™, and withdrawals via bank transfers. Some methods have withdrawal holds of up to 7 days.
• EUR (Euro): Supported through SEPA, SEPA Instant (Banking Circle & ClearJunction), PayPal, and SWIFT (Bank Frick & Etana Custody), with free and near-instant options for SEPA users.
• CAD (Canadian Dollar): Deposits via Interac e-Transfer, SWIFT, in-person cash at Canada Post, and domestic wire transfers, with instant and free options available.
• AUD (Australian Dollar): Users can deposit using Bank Transfer, Osko, PayPal, and SWIFT, with real-time gross settlement (RTGS) available for fast transactions.
• GBP (British Pound): Funding options include Faster Payments (FPS), BACS (Plaid & Banking Circle), PayPal, and SWIFT, with free and near-instant transactions for UK-based users.
• CHF (Swiss Franc): Deposits and withdrawals are supported through SWIFT (Etana Custody) with instant or multi-day processing options.
• JPY (Japanese Yen): Available via SWIFT (Etana Custody), with free deposits and processing times between 2-5 days.

Users should note that some deposit methods require a KYC verification level (e.g., Intermediate or Pro) and certain transactions, such as ACH and PayPal, may trigger a temporary withdrawal hold for security reasons.

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Kraken Regulation and Licenses

Kraken holds 12 regulatory registrations and licenses, ensuring compliance with financial laws in key global markets. These registrations allow Kraken to operate as a regulated exchange, offering crypto trading, custody, and financial services under local oversight.

Kraken’s key regulatory licenses include:

• North America:  Registered as a Money Services Business (MSB) with FinCEN (U.S.) and FINTRAC (Canada); operates Kraken Financial as a Wyoming-chartered SPDI.
• Europe: Licensed as a Virtual Asset Service Provider (VASP) in France, Ireland, Italy, Spain, Poland, Belgium, and the Netherlands, enabling crypto trading and custody services.
• Germany: Operates under DLT Securities GmbH, regulated by BaFin as an investment firm, with a preliminary Crypto Asset Custodian License (§ 64y Para. 1 KWG).
• United Kingdom: Registered as a Cryptoasset Firm with the FCA (FRN 928768) and maintains an FCA Authorized Investment Firm license (FRN 757895) for investment-related crypto services.
• Australia: Registered as a Digital Currency Exchange (DCE) with AUSTRAC and authorized for derivatives trading under AFSL 545124.

Kraken’s regulatory approvals come with regional restrictions, including limits on staking, derivatives trading, and specific crypto assets like Monero (XMR) and Tremp (TREMP) in various jurisdictions.

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Does Kraken Require KYC?

Yes, Kraken requires all users to complete Know Your Customer (KYC) verification to access its platform, in compliance with global Anti-Money Laundering (AML) regulations. Both new and existing clients must submit a KYC questionnaire, and failure to do so will restrict access to Kraken’s services.

Kraken offers Intermediate and Pro verification levels, both requiring personal details, government-issued ID, and proof of address. U.S. clients must also provide a Social Security Number (SSN) or Tax ID, and certain users may need to submit a face photo based on their country’s regulations.

For heightened security, all verified accounts must enable two-factor authentication (2FA), and additional verification checks may be required depending on the user’s jurisdiction.

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Can Kraken be Accessed Via VPN?

Kraken allows VPN use but prohibits using it to bypass geo-restrictions. Accessing the platform from a banned country can lead to account suspension or termination. If Kraken detects a user violating its rules, the account may be closed, and funds could be frozen.

While VPN use is legal in most places, misrepresenting your location for financial services may violate local laws. Some countries enforce strict penalties, including fines or criminal charges, for evading financial regulations.

Users in restricted regions may consider decentralized or no-KYC exchanges, but these come with higher risks and fewer protections.

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About Kraken

Kraken, founded in 2011 in San Francisco, California, by Jesse Powell, is one of the longest-operating cryptocurrency exchanges. In 2024, Forbes named Kraken the #1 cryptocurrency exchange, recognizing its liquidity, execution speed, and advanced trading tools.

Kraken upholds financial transparency through regular Proof of Reserves audits, allowing users to verify their holdings on-chain. It also implements multi-layered security measures, including cold storage and cryptographic verification, to protect customer assets.

To comply with MiCA regulations in Europe, Kraken is delisting Tether's USDT and four other stablecoins in the European Economic Area (EEA), with full elimination set for March 2025.

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Final Thoughts

Kraken is widely accessible in the U.S., Canada, the U.K., and most of Europe, but remains restricted in Russia, Belarus, Iran, North Korea, Syria, Afghanistan, and several regions in Ukraine, Africa, and Cuba.

Users in supported countries may still face local restrictions on specific assets, deposit methods, or trading features based on regulatory requirements.