Coinbase, Kraken or Bitpanda account on hold: which documents to send
Updated:
Open the request inside your account, read exactly what it asks for, and answer with documents that show where the money or crypto came from and how it reached the exchange. For crypto deposits, that usually means statements from the other exchange, wallet history with transaction IDs, and proof that the external wallet is yours. Coinbase and Kraken both state that a request for information does not mean you have done anything wrong.
Why exchanges ask
Crypto exchanges are covered by anti-money laundering rules. In the UK, cryptoasset exchange providers and custodian wallet providers are listed as relevant persons in regulation 8 of the Money Laundering Regulations 2017. Bitpanda points to the Austrian Financial Markets Anti-Money Laundering Act and EU rules, and says it must ask for proof of funds regardless of which country you come from.
Kraken lists three reasons for a request: a routine periodic review, account activity (for example a change in how you use the account, or the size or type of a transaction), or a follow-up on something you already sent. Coinbase lists account activity or profile, regional requirements, information that needs updating, and periodic review.
Source of funds or source of wealth?
Both terms appear in these requests. Kraken describes source of wealth as how you built your wealth over time, and source of funds as where the money for a specific transaction came from. Coinbase uses the same split. Read which one your request names; the documents differ. For more on the distinction, see why banks ask for source of funds.
What each exchange says it needs
Coinbase
Coinbase sends the request by email or in your account. You sign in, open the task, answer the questions and upload documents. For funds from crypto activity, its help center lists:
- statements from another exchange
- trading history
- wallet transaction history
- blockchain transaction IDs
- mining or staking records
- records showing the sale of digital assets
- evidence connecting the external wallet or exchange account to you
- tax or accounting records
For self-custody wallets, Coinbase asks for records showing the wallet address, transaction history, dates, assets and amounts, and may request more to verify that you control the wallet. If you use several exchanges or wallets, it may ask how the funds moved between them. Bank statements must cover a rolling period of at least 3 months, dated within the most recent quarter. Coinbase says review times vary, and that if you do not provide the information, outcomes can include limits on deposits, withdrawals or trading, or account closure.
Kraken
Kraken requests can currently only be viewed and answered in a web browser, through a banner after you log in at kraken.com. For proof of source of funds, Kraken asks for a document showing how the money was earned and proof you received it. If the funds are already on Kraken, also show that they were transferred in, for example with a bank statement or crypto wallet transaction.
Its list of acceptable documents includes an external cryptoasset exchange statement showing your name, email ID, wallet address and balances, together with a document identifying the original source of the assets used to buy the crypto. For staking or lending income, a wallet statement is listed. Documents should be PDF, PNG, JPG, DOC or DOCX, show your name, the issuer, dates, balance and amounts, and generally be dated within 24 months. The address on the document must match your Kraken profile. Account numbers may be redacted.
Bitpanda
For crypto deposits, Bitpanda asks for documentation about the origins of all your crypto, covering account ownership and transaction history, or purchase, withdrawal or swap confirmations. For crypto bought elsewhere, it lists purchase and withdrawal confirmations showing the account ID and transaction details. For swaps, airdrops, staking and lending, it asks for wallet addresses and transaction IDs.
Two points are easy to miss. First, the documents must cover not only your latest deposit but the sum of earlier transactions up to the stated amount. Second, Bitpanda says you cannot submit proof of funds in advance. It also notes that the more precisely you show the origin of the crypto, the quicker the check can be completed.
Deadlines the exchanges state
| Exchange | What its help center says |
|---|---|
| Coinbase | Review times vary with the request, document quality and account complexity. |
| Kraken | The request shows a completion date and you get a reminder. If it expires, Kraken may pause some activity such as trading and deposits; it says withdrawals are not affected. Contact Kraken before the date if you need more time. |
| Bitpanda | If supporting documents are not received within the first seven days after a proof of funds case is opened, transactions will be blocked. |
These are the exchanges' own statements as of the update date of this guide. Your request in the app is the most accurate source for your case.
How to prepare a clear package
- Confirm the request is genuine. Type the exchange's address into your browser yourself and check that the request appears in your account. Kraken advises treating a message as suspicious if nothing shows after you log in.
- Note the deadline and what exactly is requested: source of funds, source of wealth, or both.
- Write a short cover note. List the deposits in question with dates and amounts, and the path each one took.
- Collect the documents. Bank statements, statements from other exchanges, wallet history with transaction IDs, and a signed message for each self-custody address. See how to prove you own a crypto wallet.
- Check each document. Your name, dates, amounts and the issuer should be visible. Coinbase lists expired, blurry, unreadable or cropped documents as reasons for rejection.
- Upload only through the official app or website. Coinbase and Kraken both say they will never ask for your recovery phrase.
- Ask for more time before the deadline if a bank or another exchange is slow to produce a statement.
How Fundsheet helps
Fundsheet makes a wallet statement PDF from public blockchain data for EVM and Bitcoin addresses, listing every incoming and outgoing transfer with its date, amount and value at the time. A first-hop origin section shows where incoming funds came from, using public labels where they exist, such as known exchange wallets. You can attach proof of control by signing a plain-text message, and add Coinbase, Kraken, Binance or Bitpanda CSV exports, which are parsed in your browser and never uploaded. Each report has a report ID, a SHA-256 hash and a verification page; it is a factual trace, not a legal opinion, and the exchange decides. Try the free preview at fundsheet.mintward.xyz.
This guide is general information, not legal or tax advice. Ask the exchange, and your bank, which documents they accept.
Sources
- Provide information for an account review (Coinbase Help)
- Why do we ask for Source of Wealth or Source of Funds Documents? (Kraken Support)
- Responding to a request for additional information (Kraken Support)
- What is a proof of funds/wealth document? (Bitpanda Helpdesk)
- Why are my withdrawals blocked? (Bitpanda Helpdesk)
- MLR 2017, regulation 8: relevant persons (legislation.gov.uk)