Kraken tightens verification for European crypto deposits and withdrawals over €1,000
The new rules take into amounts from 1,000 euros
Starting December 30, cryptocurrency exchange Kraken will introduce additional verification requirements for deposits and withdrawals in certain European countries.
According to French publication Coin Academy, citing a statement from the exchange, the rules will apply to transfers of €1,000 or more.
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Part of new crypto regulations
In such cases, users will need to confirm ownership of the deposit or provide verification for the new wallet address where cryptocurrency is being transferred.
The statement notes that these changes are part of broader cryptocurrency regulations in the European Union.
Kraken is seeking internal SEC documents on Bitcoin, Ethereum, and the agency’s trading policies through the courts.
In a legal battle that began over a year ago, Kraken, through its parent companies Payward Inc. and Payward Ventures, insists on obtaining information about the SEC’s internal trading policies, its stance on the two largest cryptocurrencies, and the agency’s public statements regarding digital assets.
