Enhanced protection for your Assets

At Knaken, the security of your assets is our top priority. To provide even better protection for your funds and to align our structure with the renewed requirements of the European regulation (MiCAR), we have implemented an important improvement in our organization and terms.

In this post, we explain what is changing and how this guarantees your safety.

Extra Security: Legal separation of your crypto 

To meet the standards set by the new European legislation, we have optimized our internal structure.

From now on, the management of all your crypto assets (in addition to Euro transactions) will be handled via a separate, independent entity: the Stichting Knaken Payments (Knaken Payments Foundation).

This ensures a strict legal separation. In practice, this means your assets are completely segregated from the business activities and balance sheet of Knaken Cryptohandel B.V. This is a significant step in safeguarding your property.

What does this mean for you? In practice, nothing changes in how you use our platform:

• No action required: You do not need to do anything.
• Same convenience: Your account and login details remain the same.
• Speed: Depositing, trading, and withdrawing works exactly as you are used to.

Update to General Terms and Conditions 

Due to this new structure and in preparation for MiCAR regulations, we have updated our General Terms and Conditions. Here are the key changes:

1. Custody and Management: We have clarified the rules regarding the safe custody of your crypto assets and client funds via the independent Stichting Knaken Payments.
2. New Services & TFR: The terms now include a description of our crypto transfer services. This ensures compliance with the requirements of the ‘Travel Rule’ (TFR) for securely sending crypto.
3. Staking: In line with our current offering, information regarding staking services has been removed from the terms.
4. Liability & Protection: We have further specified our liability and the protection of your funds.

Transparency and Trust 

With this step, we continue to build a safe, transparent, and reliable platform ready for the future.

You can read the full, updated terms here: Terms and Conditions.

Do you have any questions about this update? Our support team is here to help.