In Australia, Beaufort Fiduciaries Pty Ltd (ACN 162 139 871, AFSL No. 545124) provides wholesale clients with access to derivatives where the underlying assets are digital assets. Derivatives are complex, regulated financial products that are difficult to understand and may not be suitable for inexperienced investors. For eligibility, terms and conditions click here. Krak Pay is offered by Bit Trade Australia Pty Ltd (ACN 163 237 634), Authorised Representative of Flexewallet Pty Ltd (AFSL 448066). This information is general in nature and does not take into account your personal objectives, financial situation or needs. You should consider whether it is appropriate for you and read the relevant disclosure documents before making any decision.

Updates to Crypto Transfer Procedures for EU and UK Clients

Last updated: March 6, 2026

In response to new regulations in the EU and UK, Kraken has implemented adjustments to how we handle crypto transfers in and out of the platform, for EU and UK-based clients. The regulations - broadly known as the Travel Rule - mandate that Virtual Asset Service Providers (VASPs) like Kraken take steps to identify counterparties that our clients transact with from time to time. Such steps include requiring us to confirm information about both the sender and the receiver for all VASP to VASP crypto transactions or, in some cases, confirm ownership information for self-hosted wallets transfers.

To facilitate these changes, Kraken has collaborated with a number of Travel Rule partners, including Travel Rule Universal Solution Technology (TRUST). This partnership leverages TRUST's technology to exchange necessary data - securely and all fully encrypted - ensuring compliance with the regulations while prioritising your security and privacy.

The Travel Rule sets standards requiring financial institutions and VASPs to exchange details about the parties involved in virtual asset transactions. Its goal is to curb the use of cryptocurrencies and other virtual assets for illicit purposes by making it harder for criminals to remain anonymous. As a result, in some circumstances you will now be required to provide additional information during your crypto deposits and withdrawals.

When you deposit or withdraw funds to or from a self-hosted wallet, you may be asked to confirm ownership of that wallet (as Kraken only allows first-party transactions - i.e. sending crypto from one of your accounts to another). Once you’ve confirmed this once, we won’t ask you to do it again!

If you are depositing or withdrawing to another VASP, you may be asked to confirm which VASP that is, and again, confirm ownership of the wallet.

We advise all EU and UK clients to familiarise themselves with these updates.

For crypto deposits and withdrawals exceeding 1,000 EUR in value, you will be prompted to verify ownership of a private wallet.

To do so:

  1. 1

    Complete the Verification Process (For Deposits)

    When a deposit is flagged as potentially coming from a private wallet, we’ll send you an email with a link to our verification interface. Once you access the interface, you’ll be asked to indicate whether the funds came from an “Exchange” or a “Private Wallet.”

    If you select “Private Wallet,” you can verify ownership by either completing a quick self-attestation or performing a Satoshi Test. Once the verification process is complete, the deposit will be released, and the originating wallet address will be whitelisted to avoid future holds.


  2. 2

    Verify Your Wallet Ownership: Self-Certification: Complete a quick, one-click ownership verification with a 2FA security check.

    Satoshi Test: This involves sending a small crypto transaction to confirm you control the wallet. Learn how to complete a Satoshi Test here.


  3. 3

    Re-initiate Your Withdrawal: Once your wallet is verified, submit a new withdrawal request to the same address. Verified wallets won’t need to be re-verified for future transactions.

At Kraken, we prioritise security in everything we do and we are fully committed to protecting your data. You may read our Privacy Notice for a detailed overview on how we manage personal data.

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