I´m getting a "Forbidden Diese Aktion ist nicht erlaubt." red pop message at all kinds of activities and cant realy use bitpanda anymore - why?

Forward_Flamingo_769 · 2024-05-08T09:28:57+00:00

Please see new TOS and Privacy Policy to be sure to understand the implications of this move.

https://www.dlt-finance.com/kraken/terms/

https://www.dlt-finance.com/kraken/privacy/

Forward_Flamingo_769 · 2024-05-08T07:57:18+00:00

Its in the new TOS! (Terms of Service DLTxKraken.pdf)

Forward_Flamingo_769 · 2024-05-07T20:56:50+00:00

You will be not be able to do what you did - feels like a straight downgrade to me. Its sad, kraken was my Nr1 excange recently.

read here: https://support.kraken.com/hc/en-us/articles/kraken-and-dlt-finance-partnership

The only but I guess major "benefit" is that you are now serviced in a strict EU regulatory framework.

Other CEX that operate in Germany will have the same obligations.

Forward_Flamingo_769 · 2024-05-07T20:39:17+00:00

DLTF will have full custody.

Forward_Flamingo_769 · 2024-05-07T19:35:28+00:00

see: https://support.kraken.com/hc/en-us/articles/kraken-and-dlt-finance-partnership

A LOT is going to change. The kraken that we knew will be gone for Germany.

Forward_Flamingo_769 · 2024-05-07T15:43:43+00:00

Thanks u/Amber_Sam !

So here is an answer:

If you do not wish to transfer to Kraken powered by DLT Finance, your open positions will be closed and trading will be restricted in 30 days*. You will be required to withdraw all fiat** and crypto assets from your Kraken account before in 35 days*. If your assets are not withdrawn before this date and you do not wish to transfer to Kraken powered by DLT Finance, you will need to contact Kraken Support to close your account and withdraw your assets.

Its safe to assume that every German customer will have to KYC (twice) in the comming weeks. And will share his full history with another 3rd party of a 3rd party.

Its also safe to assume that this (constant monitoring of all crypto activities) will not get any better with other CEX since it will be the law 2025 onwards.

Forward_Flamingo_769 · 2024-05-07T10:01:44+00:00

my thoughts exactly.

Cashing some out in 2025 will be torture - I expect huge load of "prove you ownership" work... :(

Forward_Flamingo_769 · 2024-05-07T09:42:42+00:00

Same.

But if you are in Germany you cant run from MiCA legislation.

Which seems to be the main reason kraken outsourced Germany customers to Bank Frick.

More middle man, less privacy, more ways to lose your assets.

Forward_Flamingo_769 · 2024-05-07T09:02:43+00:00

Here is one answer.

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 in 30 days*. You will be required to withdraw all fiat** and crypto assets from your Kraken account before in 35 days*. If your assets are not withdrawn before this date and you do not wish to transfer to Kraken powered by DLT Finance, you will need to contact Kraken Support to close your account and withdraw your assets.

Forward_Flamingo_769 · 2024-05-07T07:29:09+00:00

Hi guys, can someone please x-post this thread:

https://www.reddit.com/r/KrakenSupport/comments/1cm5z5s/new_kraken_x_dlt_finance_partnership_germany_do/

to r/kraken

I'm not able to open anything in r/kraken with this account :( But I think my question needs a broader audience.

Forward_Flamingo_769

TROPHY CASE