Cryptocurrency Q&A
Does Kraken require SSN?
Does Kraken require SSN?
Lucia
Thu Jun 20 2024
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6 answers
940
As a potential user of the Kraken cryptocurrency exchange, I'm curious about the verification process. Specifically, I'm wondering if Kraken requires Social Security Numbers (SSN) for user registration and account verification? This is a sensitive piece of personal information, and I'd like to know if Kraken handles it securely and whether it's a mandatory requirement for account setup. Understanding this information will help me make an informed decision about whether to proceed with my Kraken account creation. Could you please clarify Kraken's policy on the collection and use of SSNs?
6 answers
SamuraiCourageous
Sat Jun 22 2024
For US clients engaging in cryptocurrency transactions, it is crucial to possess a valid Social Security Number (SSN) or an Individual Taxpayer Identification Number (ITIN).
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BlockchainMastermind
Sat Jun 22 2024
These identification numbers serve as a means of verification and authentication for tax purposes within the United States.
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Valentina
Sat Jun 22 2024
The SSN is a unique nine-digit number issued to US citizens, permanent residents, and temporary residents by the Social Security Administration.
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Matteo
Sat Jun 22 2024
Alternatively, non-resident aliens who are required to file tax returns in the US may apply for an ITIN.
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Eleonora
Fri Jun 21 2024
Both the SSN and ITIN are essential for cryptocurrency exchanges and other financial institutions to comply with Know Your Customer (KYC) regulations.
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