Skip to content
Heads up: The CLARITY Act is not law. Statuses are rules-based estimates from public evidence, not legal or financial advice.
← All exchanges

Is Kraken safe?

Payward, Inc. (US payments entity: Payward Interactive, Inc.) · Last updated Oct 19, 2026
75/100Moderate signals

At a glance

75/100 · Moderate signals
  • ClarityCheck score75/100 · Moderate signals
  • US availabilityUS: some states restricted
  • NY BitLicense / trust charterNot found
  • Proof of reservesWithin 12 months
In short

Broad US licensing (not NY), full CFTC derivatives stack, regular proof of reserves, 2023 SEC staking settlement. Not available in New York or Maine, according to Kraken's own disclosures.

Score breakdown

  • US money-transmission licensing25/25
    FinCEN MSB registration (5) + state licence coverage: broad (20)
  • Higher-tier US oversight10/20
    NYDFS BitLicense/trust charter no (0); CFTC-registered affiliate yes (5); SEC-registered broker-dealer or SEC-reporting parent yes (5)
  • Reserves & financial transparency10/20
    Audited financials filed with the SEC no (0); proof of reserves within 12 months (10)
  • Enforcement record (last 5 years)20/25
    Starts at 25. Criminal plea: none found (0); regulatory penalties ≥ $1M: 1 (−5 each, max −15). Dismissed or closed cases don't deduct.
  • Security incidents (last 3 years)10/10
    Starts at 10. Theft of ≥ $100M: none found; disclosed customer-data breach: none found

How the score works →

Custody

Custody through Kraken Financial, a Wyoming SPDI. Proof of reserves covers client balances.

Registrations & licences

5 facts
  1. Company / third-partyOct 19, 2026 · Kraken

    Payward Interactive, Inc. is registered with FinCEN as an MSB (reg. 31000270997766) and also appears in FinCEN's registrant list.

    Kraken: Disclosures ↗
  2. Company / third-partyOct 19, 2026 · Kraken

    Money transmitter licences in 46 US jurisdictions (states, DC and Puerto Rico), NMLS ID 1843762. Maine and New York are excluded.

    How Kraken is regulated ↗
  3. Company / third-partyOct 19, 2026 · Kraken

    Kraken Financial holds a Wyoming Special Purpose Depository Institution (SPDI) charter.

    Where is Kraken licensed or regulated? ↗
  4. Company / third-partyOct 19, 2026 · Kraken

    CFTC-regulated derivatives: a DCM, DCO and FCM through Bitnomial, plus an FCM through NinjaTrader Clearing (dba Kraken Derivatives US). SEC-registered broker-dealer Kraken Securities LLC.

    How Kraken is regulated ↗
  5. Official sourceNot found / absentOct 19, 2026 · NYDFS

    Kraken is not on NYDFS's list of BitLicense holders (checked Oct 19, 2026).

    NYDFS: Virtual Currency Businesses, regulated entities list ↗

EU (MiCA)

1 fact
  1. Official sourceOct 19, 2026 · ESMA

    Payward Global Solutions Limited and Payward Europe Solutions Limited (Ireland) are authorised MiCA CASPs, notified 25/06/2025.

    ESMA interim MiCA register: authorised crypto-asset service providers (CASPS.csv) ↗

Enforcement & legal history

2 facts
  1. Official sourceFeb 9, 2023 · SEC

    SEC settlement, Feb 9, 2023: $30 million; Kraken ended its US staking-as-a-service programme.

    SEC: Kraken to discontinue staking program and pay $30 million ↗
  2. Official sourceMar 27, 2025 · SEC

    SEC civil case against Payward/Kraken dismissed with prejudice, Mar 27, 2025.

    SEC Litigation Release 26278 ↗

Reserves & transparency

1 fact
  1. Company / third-partyJun 30, 2026 · Kraken

    Publishes Merkle-tree proof of reserves with an independent accountant's review. Latest listed snapshot: June 30, 2026.

    Kraken Proof of Reserves ↗

Kraken questions

Is Kraken safe?

ClarityCheck scores Kraken 75/100 (Moderate signals) on public regulatory and transparency signals: Broad US licensing (not NY), full CFTC derivatives stack, regular proof of reserves, 2023 SEC staking settlement. This is not a solvency rating or a guarantee.

Is Kraken available in the US?

US: some states restricted. Not available in New York or Maine, according to Kraken's own disclosures.

Is Kraken licensed in New York?

We didn't find Kraken on NYDFS's list of BitLicense or trust-charter holders (checked Oct 19, 2026).

Not legal, financial or investment advice. The CLARITY Act is not law. Facts are from the linked sources as checked on Oct 19, 2026; please tell us if anything is out of date.