Kraken to Change Its Margin Trading Program, Affecting Customers in the US

Kraken, the US-based crypto exchange announced its plan to change its margin trading platform, taking effect from June 23 2021. Those who do not meet certain requirements in the US will no longer be offered with margin trading service.

Forexway Launched the First-of-its-kind Animated Videos on Forex Trading​

For those who are based outside the US, Kraken said that the ones in the Starter tier must upgrade to the Intermediate tier to keep alive the margin trading feature within its account. It has been clarified by the exchange, however, that non-US clients at both Intermediate and Pro verification levels wouldn't be affected by the new rulings.

"Kraken is making these changes in light of regulatory guidance about leveraged digital asset transactions," the company said.

The crypto exchange also announced that all Starter tier clients and US clients who do not meet the additional requirements by the deadline set would only be allowed to reduce existing exposure in margin position.

"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," it added.