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Reverifying your German account
The exact service start and other dates may vary. Clients will be contacted with confirmation of the dates.
As announced here, Kraken has entered into a partnership with DLT Finance (DLTF). DLT Finance is a brand of DLT Securities GmbH and DLT Custody GmbH. This partnership enables us to serve German clients through DLT Finance with a localized product offering, as we continue the next phase of our dedicated European expansion. German clients will still be able to access the superior user experience, market leading liquidity, and client support to which they are accustomed.
Clients wishing to use services without interruption must reverify their identity and update their account. As per regulatory requirements, Kraken is offering a remediation window in which clients can perform the required actions before the platform is live, more details are available here and below.
How to Reverify
Clients must do the following before July 10, 2024:
  1. 1
    Once prompted, accept the new terms of service and Privacy Policy.
  2. 2
    Reverify their account by providing additional information and reverifying their identity.
  3. 3
    Withdraw or exchange their unsupported assets, see full list here.
Verification Window
Clients will be contacted with a prompt to reverify throughout the remediation window. Clients will also be able to reverify their accounts by logging in and following the pop-up instructions, which will be made available to clients by May 25, 2024.
Initial Service Suspension
Clients will have a further 21 days upon receipt of the remediation request email to complete the required actions before receiving an initial service restriction. If a client has not remediated after this period:
  1. 1
    Their open positions and orders closed for all trade types.
  2. 2
    Their ability to able to place new orders or open new positions will be suspended.
Clients are still able to reverify after the initial service restriction. Upon reverifying, clients will have account functionality restored.
Final Service Suspension
If a client has not verified their account by July 10, 2024, their account will be fully suspended with the following additional service suspensions:
  1. 1
    Staked assets will be unstaked.
  2. 2
    Crypto and fiat withdrawals will no longer be available.
Reverifying After July 10, 2024
Clients are still able to reverify their account after the full service suspension. This can be done by either logging into the platform or following the instructions contained in prior email communications. Clients who do not wish to reverify after this date, but still have assets on the platform, should contact Kraken Support to close their Kraken account and withdraw their assets from the Kraken platform. Please note, access to assets will be dependent upon meeting legal KYC requirements.
What if I don’t want to transfer to Kraken powered by DLTF?
If you do not wish to transfer to Kraken powered by DLT Finance, your open positions will be closed and trading will be restricted from inital service suspension*. You will be required to withdraw all fiat** and crypto assets from your Kraken account before July 10, 2024*. If your assets are not withdrawn before this date and you do not wish to transfer to Kraken powered by DLT Finance, you must contact Kraken Support to close your account and withdraw your assets.
**NOTE: Even if you do not transfer to Kraken powered by DLT Finance, you will, from July 10, 2024*, contract with Payward Ireland Limited, trading as Kraken, for e-money services as more fully described in (Annex G of the Kraken Terms of Service). To reflect this change the Kraken Terms of Service will be updated to include Annex G (Payward Ireland Limited’s services) and add Payward Ireland Limited as a Kraken service provider for e-money services. If you do not transfer to Kraken powered by DLT Finance by July 10, 2024* and you have not closed your Kraken account, you will be deemed to have agreed to the new Kraken Terms of Service as of that date. In order to facilitate your continued use of e-money services, Payward Ireland Limited will process your personal data as data controllers in line with Kraken’s Privacy Notice.
*The exact service start and other dates may vary. Clients will be contacted with confirmation of the dates.
If you have any further questions, please don't hesitate to contact Kraken Support.