Cryptocurrency exchange Kraken will no longer offer margin trading to some of its U.S. customers who fail to comply with its requirements starting from June 23, according to a June 9 blog post.
The trading platform didn't specify what these requirements are, claiming that the clients will be informed about them by email.
Kraken strengthening the restrictions on leveraged trading due to regulatory issues:
Kraken is making these changes in light of regulatory guidance about leveraged digital asset transactions.
Non-U.S. Kraken users will have to upgrade their verification level from "Starter" to "Intermediate" in order to margin trade.
The exchange launched margin trading for the first time back in 2015. It currently allows trading up with up to 5x leverage.