Bakkt Licenses & Disclosures
Bakkt Crypto Solutions, LLC has a BitLicense through the New York State Department of Financial Services (“NYDFS” or “DFS”) and is registered with FinCEN as a money service business. It also has money transmitter licenses in states where so required. As an MSB, Bakkt Crypto Solutions, LLC is compliant with the requirements of the Bank Secrecy Act (BSA).
Bakkt is required to comply with various financial services, consumer protection, money transmission and cybersecurity laws and regulations. It is Bakkt’s policy to broadly disclose all applicable risks of its products and services to its customers.
Bakkt is committed to consumer protection and combatting fraud. Cryptocurrencies, virtual currencies and digital assets are commonly targeted by hackers and criminals who commit fraud, especially through social media platforms. Bakkt and its employees will never contact you through social media platforms. If you believe you are a victim of fraud, please contact us at help@bakkt.com or +1 (800) 322-1719.
Bakkt will never reach out to you via text message, WhatsApp, Facebook, Instagram, Twitter, Telegram, Discord or other social media channels or messaging services. Bakkt will only contact you via email. The only website affiliated with Bakkt is https://bakkt.com. Customers may only open and access an account through Bakkt’s official client partners.
- RISK DISCLOSURES
You must evaluate your particular financial circumstances to determine whether or not trading cryptocurrencies is appropriate for you. You should not invest funds in cryptocurrencies that you cannot afford to lose. The trading of cryptocurrencies can result in substantial losses up to and including all of your investment. For that reason, you should not use funds that are earmarked for special purposes, such as retirement funds, debt repayment funds, amounts needed for emergency expenses, tuition or household expenses or funds otherwise required by your lifestyle, to trade cryptocurrencies.
Unique Features of Cryptocurrencies:
Cryptocurrencies are digital instruments that are intended to function as a store of value or a medium of exchange. Although cryptocurrencies are often exchangeable for various fiat currencies, unlike fiat currencies, cryptocurrencies are not backed by any government or central bank and do not constitute legal tender. Cryptocurrencies have no intrinsic value and there is no investment underlying cryptocurrencies. The price of cryptocurrencies is based on the agreement of the parties to a transaction, which may or may not be based on the market value of the cryptocurrency at the time of the transaction.
Insurance:
Accounts holding cryptocurrencies are not protected by SIPC coverage. Cryptocurrencies are also not covered by the FDIC, which covers fiat currency held in member banks. Existing insurance products are inadequate to cover potential losses if an exchange fails and/or digital wallets are hacked.
Price Volatility:
Cryptocurrencies derive their value from the markets in which they trade, and the markets for cryptocurrencies are global. The price of cryptocurrencies is based on the perceived value of the cryptocurrency and subject to changes in sentiment, which make these products highly volatile and unpredictable. The fluctuations of cryptocurrency prices are much greater than the price fluctuations of fiat currencies, which are also risky to trade. Certain cryptocurrencies have experienced daily price volatility of more than 20%, including sudden drops in price. If participants in a given cryptocurrency market change their view about the value of a given cryptocurrency versus fiat currency, the price of the cryptocurrency can decline precipitously. During periods of volatility it may be difficult to liquidate a position in cryptocurrencies at all or, if possible, such liquidation may occur at a significant loss. It is possible that the market for a given cryptocurrency can collapse altogether.
Valuation and Liquidity:
Cryptocurrencies can be traded through privately negotiated transactions and through numerous cryptocurrency exchanges and intermediaries around the world, each with its own pricing mechanism and/or order book. Generally accepted auditing methods for cryptocurrencies do not exist and cryptocurrency platforms do not have consistent methods for auditing their holdings and some do not have audits at all. The lack of generally accepted auditing methods and a centralized pricing source pose a variety of valuation challenges. In addition, the dispersed liquidity may pose challenges for market participants trying to exit a position, particularly during periods of stress.
Cybersecurity:
The cybersecurity risks of cryptocurrencies and related “wallets” or spot exchanges include hacking vulnerabilities, cybersecurity attacks and a risk that publicly distributed ledgers may not be immutable. A cybersecurity event could result in a substantial, immediate and irreversible loss for market participants that trade cryptocurrencies. Cryptocurrency transactions may be irreversible, and, accordingly, losses due to a cybersecurity event may not be recoverable. Even a minor cybersecurity event in a cryptocurrency is likely to result in downward price pressure on that product and potentially other cryptocurrencies. In addition, the trading of cryptocurrencies may be adversely affected by network connectivity issues and dissemination of inaccurate data. You may incur losses due to software or hardware failures and system failures.
Opaque Spot Market:
Not only are the cryptocurrency markets volatile, but they are subject to fraud and other trading aberrations. Cryptocurrency balances are generally maintained as an address on the blockchain and are accessed through private keys, which may be held by a market participant or a custodian. Although cryptocurrency transactions are typically publicly available on a blockchain or distributed ledger, the public address does not identify the controller, owner or holder of the private key. Unlike bank and brokerage accounts, cryptocurrency exchanges and custodians that hold cryptocurrencies do not always identify the owner. The opaque underlying spot market poses asset verification challenges for market participants, regulators and auditors and gives rise to an increased risk of manipulation and fraud, including the potential for Ponzi schemes, bucket shops and pump and dump schemes, which may undermine market confidence in a cryptocurrency and negatively impact its price. Most cryptocurrency platforms do not have surveillance systems and rules intended to prevent market manipulation or other forms of abusive trading nor do they have the ability to enforce such rules. Trading by employees of the platforms and the platform themselves are often not adequately restricted to prevent trading abuses.
Cryptocurrency Exchanges, Intermediaries and Custodians:
Cryptocurrency exchanges, as well as other intermediaries, custodians and vendors used to facilitate cryptocurrency transactions, are relatively new and largely unregulated in both the United States and many foreign jurisdictions. There are no standard capital requirements for cryptocurrency platforms nor are there guarantors in the event a cryptocurrency exchange fails. The opaque underlying spot market and lack of regulatory oversight creates a risk that a cryptocurrency exchange may not hold sufficient cryptocurrencies or other funds to satisfy its obligations and that such deficiency may not be easily identified or discovered.
In addition to a higher level of operational risk than regulated futures or securities exchanges, cryptocurrency exchanges can experience volatile market movements, flash crashes, fraud, various forms of market manipulation, theft, transaction processing delays and other cybersecurity risks. Trading in cryptocurrencies may be halted by the various trading venues due to unusual trading activity, outages or other problems with a cryptocurrency platform. If Bakkt experiences such technical difficulties, those difficulties could prevent you from accessing the cryptocurrency in your Bakkt account. Bakkt may not have sufficient financial coverage through bonds, insurance or other products to repay your losses.
Some cryptocurrency transactions shall be deemed to be made when recorded on a public ledger, which is not necessarily the date or time that the customer initiates the transaction. Before you engage in trading cryptocurrencies, you must become familiar with the platform on which the relevant cryptocurrency trades. Generally, there is limited information about the various cryptocurrency platforms and because these platforms are complex and technically difficult for the average person to understand, you will need to put forth substantial effort to obtain the information necessary to understand the risks you are undertaking. You should understand the functions, operations and uses as well as the history for the platforms on which you invest. As described above, some platforms are subject to a variety of serious attacks, which may result in the loss of your cryptocurrency.
Regulatory Landscape:
Different geographic locations have different rules, or oftentimes no rules, that apply to the trading of cryptocurrencies. One or more jurisdictions may, in the future, adopt laws, regulations or directives that affect cryptocurrency networks and their users. Changes in government regulation, such as the suspending or restricting of trading activity in a particular cryptocurrency or currencies, may adversely affect your ability to trade and exchange your cryptocurrencies and may decrease the value of any cryptocurrency in your account.
In the United States, cryptocurrency markets are not subject to federal regulatory oversight, but cryptocurrency exchanges are subject to federal anti-money laundering regulation and may be regulated by one or more state regulatory bodies. As compared to regulated markets, such as the United States securities markets, there are no uniform regulations governing trading or other mechanisms to prevent market manipulation or to normalize the cryptocurrency markets when they experience volatility issues. Unlike the laws, rules and regulations governing the United States securities markets, there are generally no laws, rules or regulations that require anyone to continue to support a cryptocurrency market, and there is no assurance that a person who accepts a virtual currency as payment today will continue to do so in the future.
Notwithstanding the foregoing, many cryptocurrency derivatives are subject to regulation by the CFTC. In addition, the SEC has cautioned that many initial coin or “token” offerings are likely to fall within the definition of a security and subject to U.S. securities laws. As a result, cryptocurrencies currently face an uncertain regulatory landscape in the United States and many foreign jurisdictions.
Technology:
The relatively new and rapidly evolving technology underlying cryptocurrencies introduces unique risks. For example, a unique private key is required to access, use or transfer a cryptocurrency on a blockchain or distributed ledger. The loss, theft or destruction of a private key may result in an irreversible loss. Changes in the technology of a given cryptocurrency platform or changes resulting from cybersecurity attacks include but are not limited to a “fork,” which can have a negative impact on the value of a particular cryptocurrency and can result in the loss or cancellation of a cryptocurrency position or a sudden loss of value. The ability to participate in forks could also have implications for investors. For example, a market participant holding a cryptocurrency position through a cryptocurrency exchange may be adversely impacted if the exchange does not allow its customers to participate in a fork that creates a new product.
Transaction Fees:
Many cryptocurrencies allow market participants to offer miners (i.e., parties that process transactions and record them on a blockchain or distributed ledger) the ability to earn a fee. While not mandatory, a fee is generally necessary to ensure that a transaction is promptly recorded on a blockchain or distributed ledger. The amounts of these fees are subject to market forces, and it is possible that the fees could increase substantially during a period of stress. In addition, cryptocurrency exchanges, wallet providers and other custodians may charge relatively high fees as compared to custodians in many other financial markets.
Investor Alerts:
A number of governmental and self-regulatory agencies have published information alerting the public of the risks of digital currency:
CFTC:
Risks to consumers posed by virtual currencies
Customer Advisory: Understand the Risks of Virtual Currency Trading
Investor Alert: Watch Out for Fraudulent Digital Asset and “Crypto” Trading Websites
SEC:
Exercise Caution with Crypto Asset Securities – Investor Alert
Ponzi schemes Using virtual Currencies
Digital Asset and “Crypto” Investment Scams – Investor Alert
Social Media and Investment Fraud – Investor Alert
FINRA:
Getting a Handle on Virtual Currencies
Bitcoin Basics – 9 Things You Should Know About the Digital Currency
FBI:
Scammers Defraud Victims of Millions of Dollars in New Trend in Romance Scams
NY Attorney General’s Office:
INVESTOR ALERT: Attorney General James Warns New Yorkers About Cryptocurrency Investment Risks
Federal Trade Commission:
What To Know About Cryptocurrency and Scams
Global Anti-Scam Organization:
- BAKKT LICENSES
Bakkt Crypto Solutions, LLC – NMLS ID #1890144
Bakkt Crypto Solutions, LLC is licensed in the following U.S. jurisdictions:
|
State |
License |
State Agency |
|
Alabama |
Sale of Checks License, #803 |
Alabama Securities Commission (334) 242-2984 |
|
Alaska |
Money Transmitter License, #AKMT-012286 |
State of Alaska, Division of Banking & Securities |
|
Arizona |
Money Transmitter License, #1003995 |
Arizona Department of Financial Institutions at: |
|
Arkansas |
Money Transmitter License, #117493 |
Arkansas Securities Department |
|
Colorado |
Money Transmitter License, #500265 |
Colorado Division of Banking (303) 894-7570 |
|
Connecticut |
Connecticut Money Transmission License, #MT-1890144 |
Connecticut Department of Banking (860) 240-8299 |
|
Delaware |
Sale of Checks and Transmission of Money License, #28820 |
Office of the State Bank Commissioner Compliance |
|
District of Columbia |
District of Columbia Money Transmitter License, #MTR1890144 |
District of Columbia Department of Insurance, Securities, and Banking |
|
Florida |
Money Transmitters Part II License, #FT230000277 |
Florida Office of Financial Regulation |
|
Georgia |
Money Transmitter License, #68004 |
2990 Brandywine Rd, Suite 200 |
|
Hawaii |
N/A – Participating in Digital Currency Innovation Lab |
Hawaii Technology Development Corporation 521 Ala Moana Blvd Suite 255 Honolulu, HI 96813 |
|
Idaho |
Money Transmitter License, #MTL-259 |
Idaho Department of Finance at: |
|
Illinois |
Money Transmitter License, #MT.0000364 |
Illinois Department of Financial and Professional Regulation Division of Financial Institutions 320 W. Washington Springfield, IL 62786 |
|
Indiana |
Money Transmitter License, #43320 |
Indiana Department of Financial Institutions (317) 232-3955 |
|
Iowa |
Money Services License, #2019-0128 |
State of Iowa Division of Banking (515) 281-4014 |
|
Kansas |
Kansas Money Transmitter License, #MT.0000163 |
Kansas Office of the State Bank Commissioner (785) 296-2266 |
|
Kentucky |
Money Transmitter License, #SC711117 |
Kentucky Department of Financial Institutions |
|
Louisiana |
Money Transmitter License |
Louisiana Office of Financial Institutions PO Box 94095 Baton Rouge, LA 70804-9095 (225) 925-4660 |
|
Maine |
Money Transmitter License |
Department of Professional & Financial Regulation Bureau of Consumer Credit Protection |
|
Maryland |
Money Transmitter License, #1890144 |
Maryland Commissioner of Financial Regulation |
|
Michigan |
Money Transmitter License, #MT0022590 |
Michigan Department of Insurance and Financial Institutions |
|
Minnesota |
Money Transmitter License, #MN-MT-1890144 |
The Minnesota Department of Commerce Golden Rule Building, |
|
Mississippi |
Money Transmitter License, #1890144 |
Mississippi Department of Banking and Consumer Finance |
|
Missouri |
Sale of Checks and Money Transmitter License, #MO-24-8642 |
Missouri Division of Finance |
|
Nebraska |
Nebraska Money Transmitter License |
Nebraska Department of Banking & Finance 1526 K Street, Suite 300 Lincoln, NE 68508-2732 (402) 471-3445 |
|
Nevada |
Money Transmitter License, #MT11121
|
Nevada Department of Business and Industry 1830 College Parkway, Suite 100 Carson City, NV 89706 (775) 684-2970 |
|
New Hampshire |
Money Transmitter License, #1890144-MT |
New Hampshire Banking Department |
|
New Jersey |
Money Transmitter License, #1904215 |
New Jersey Department of Banking and Insurance |
|
New Mexico |
Money Transmitter License |
Financial Institutions Division |
|
New York |
Money Transmitter License, #104834 Virtual Currency Business Activity, #0000026 |
New York State Department of Financial Services |
|
North Carolina |
Money Transmitter License, #186894 |
North Carolina Commissioner of Banks |
|
North Dakota |
North Dakota Money Transmitter License, #MT103534 |
North Dakota Department of Financial Institutions at: |
|
Ohio |
Money Transmitter License, #OHMT178 |
Ohio Division of Financial Institutions |
|
Oklahoma |
Oklahoma – DOB Money Transmission License |
Oklahoma Department of Banking |
|
Oregon |
Money Transmitter License, #30245 |
Oregon Division of Financial Regulation |
|
Pennsylvania |
Pennsylvania Money Transmitter License, #74089 |
Pennsylvania Department of Banking and Securities |
|
Rhode Island |
Currency Transmitter License, #20204030CT |
State of Rhode Island Department of Business Regulation |
|
South Carolina |
Money Transmitter License |
South Carolina Money Service Division |
|
South Dakota |
Money Transmitter License, #MT.2180 |
South Dakota Department of Labor and Regulation |
|
Tennessee |
Money Transmitter License, 1890144 |
Tennessee Department of Financial Institutions |
|
Texas |
Money Transmitter License, #3194 |
Texas Department of Banking, |
|
Utah |
Money Transmitter License, #221 |
324 South State Street, Suite 201 (801) 538 – 8830 |
|
Vermont |
Money Transmitter License, #100-153 |
Vermont Department of Financial Regulation |
|
Virginia |
Money Transmitter License, #MO-380 |
Bureau of Financial Institutions |
|
Washington |
Money Transmitter License, #550-MT-121091 |
State of Washington - Department of Financial Institutions |
|
West Virginia |
Money Transmitter License, #WVMT-1890144 |
West Virginia Division of Financial Institutions |
|
Wisconsin |
Seller of Checks, #203-SOC |
Wisconsin Department of Financial Institutions |
|
Wyoming |
Money Transmitter License, #7271 |
Wyoming Department of Audit Hathaway Building |
Disclosures – applicable to Bakkt Crypto Solutions, LLC (“Bakkt Crypto Solutions”).
|
State |
Disclosure |
|
Alaska |
For Alaska Residents Only: If your issue is unresolved by Bakkt or Bakkt Crypto Solutions at help@bakkt.com or (800) 322-1719, please submit formal complaints with the State of Alaska, Division of Banking & Securities. Please download the form here: https://www.commerce.alaska.gov/web/portals/3/pub/DBSGeneralComplaintFormupdated.pdf Submit formal complaint form with supporting documents: Division of Banking & Securities PO Box 110807 Juneau, AK 99811-0807 If you are an Alaska resident with questions regarding formal complaints, please email us at dbs.licensing@alaska.gov or call Nine Zero Seven Four Six Five Two Five Two One |
|
Arizona |
If you have a complaint regarding the company’s money transmission activity in the State of Arizona, please contact Bakkt or Bakkt Crypto Solutions at help@bakkt.com or (800) 322-1719. For unresolved complaints, please contact the Arizona Department of Financial Institutions at: 100 N 15th Avenue, Suite 261Phoenix, AZ 85007 Telephone: (602) 771-2800 |
|
Arkansas |
If you have a complaint, please contact Bakkt Crypto Solutions, LLC at +1 (800) 322-1719 and/or at help@bakkt.com. If you still have an unresolved complaint regarding Bakkt Crypto Solutions, LLC money transmission activity, you may file the completed complaint form by emailing to ASDInfo@securities.arkansas.gov or by mailing at: 1 COMMERCE WAY, SUITE 402 LITTLE ROCK, ARKANSAS 72202 TELEPHONE: (501) 324-9260 FACSIMILE: (501) 324-9268 https://securities.arkansas.gov/file-a-complaint-2/ Important Notice from AR Securities Department about Consumer Complaint http://www.securities.arkansas.gov/!userfiles/Complaint%20Important%20Notice%20May%202020(2).pdf Initial complaints should be made in writing directly to the entity or individual with whom you have experienced the problem. It is a good idea to indicate on your complaint letter that you are sending a copy to the Arkansas Securities Department. If your problem is not resolved timely by the entity or individual, you are encouraged to complete a Complaint Form and send it to the Department. |
|
Colorado |
Colorado State Banking Commissioner CUSTOMER NOTICE Entities other than FDIC insured financial institutions that conduct money transmission activities in Colorado, including the sale of money orders, transfer of funds, and other instruments for the payment of money or credit, are required to be licensed by the Colorado Division of Banking pursuant to the Money Transmitters Act, Title 11, Article 110, Colorado Revised Statutes. If you have a Question about or Problem with YOUR TRANSACTION - THE MONEY YOU SENT You must contact the Money Transmitter who processed your transaction for assistance. The Division of Banking does not have access to this information. If you are a Colorado Resident and have a Complaint about THE MONEY TRANSMITTER – THE COMPANY THAT SENT YOUR MONEY ALL complaints must be submitted in writing. Please fill out the Complaint Form provided on the Colorado Division of Banking’s website and return it and any documentation supporting the complaint via mail or email to the Division of Banking at: Colorado Division of Banking 1560 Broadway, Suite 975 Denver, CO 80202 email: DORA_BankingWebsite@state.co.us website: https://banking.colorado.gov/industry/money-transmitters Section 11-110-120, C.R.S. requires that money transmitters and money order companies post this notice in a conspicuous, well-lighted location visible to customers. |
|
District of Columbia |
If you have a complaint regarding the company’s money transmission activity in the District of Columbia, please contact Bakkt at help@bakkt.com or (800) 322-1719. For unresolved complaints, please contact the District of Columbia Department of Insurance, Securities, and Banking at: Telephone: (202) 727-8000 |
|
Florida |
NOTICE: By the Florida Office of Financial Regulation BY GRANTING BAKKT AND BAKKT CRYPTO SOLUTIONS, LLC EACH A LICENSE, THE FLORIDA OFFICE OF FINANCIAL REGULATION IS NOT ENDORSING THE USE OF DIGITAL OR VIRTUAL CURRENCIES.
POTENTIAL USERS OF DIGITAL OR VIRTUAL CURRENCIES, INCLUDING BUT NOT LIMITED TO BITCOIN, SHOULD BE FOREWARNED OF A POSSIBLE FINANCIAL LOSS AT THE TIME THAT SUCH CURRENCIES ARE EXCHANGED FOR FIAT CURRENCY DUE TO AN UNFAVORABLE EXCHANGE RATE. A FAVORABLE EXCHANGE RATE AT THE TIME OF EXCHANGE CAN RESULT IN A TAX LIABILITY. PLEASE CONSULT YOUR TAX ADVISOR REGARDING ANY TAX CONSEQUENCES ASSOCIATED WITH YOUR HOLDING OR USE OF DIGITAL OR VIRTUAL CURRENCIES. If you have a question or complaint, please contact the consumer assistance division of Bakkt at help@bakkt.com or (800) 322-1719. Florida residents may contact the Florida Office of Financial Regulation with any unresolved questions or complaints about Bakkt or Bakkt Crypto Solutions, LLC at 200 E. Gaines Street, Tallahassee, FL 32399-0376, telephone number: (800) 848-3792 (toll free). |
|
Georgia |
Bakkt is a licensed money transmitter in the state of GA. If you have a complaint or concern regarding its money transmission services, you may contact Bakkt at help@bakkt.com or (800) 322-1719. For unresolved complaints, you may contact: DEPARTMENT OF BANKING AND FINANCE FOR THE STATE OF GEORGIA |
|
Bakkt Crypto Solutions, LLC is licensed by The Georgia Department of Banking and Finance (NMLS ID #1890144). The Georgia Department of Banking and Finance – Consumer Resources: File a Complaint. We do not intervene in disputes between consumers and financial service providers, but we do use complaint information in the regulatory process. To file a complaint with the regulators, you may securely do so with the Consumer Financial Protection Bureau, an agency of the federal government, at http://www.consumerfinance.gov/complaint/ (links off-site) or by telephone at (855) 411-2372. |
|
|
Hawaii |
Bakkt Crypto Solutions, LLC is providing services to you as a participant in a special Hawaii project which ends on June 30, 2024. At the end of the project term, Bakkt Crypto Solutions, LLC may be required to close all accounts for Hawaii customers and cease operations. Bakkt Crypto Solutions, LLC will notify Hawaii customers in advance if accounts must be closed. Hawaii customers who choose to open accounts with Bakkt Crypto Solutions, LLC are advised that the virtual currency or digital currency purchased, whether as an investment, for making payments, or other purposes, may lose value, including the loss of some or all of your original purchase amount. |
|
Idaho |
If you have a complaint regarding the company’s money transmission activity in the State of Idaho, please contact Bakkt or Bakkt Crypto Solutions at help@bakkt.com or (800) 322-1719. For unresolved complaints, please contact the Idaho Department of Finance at: P.O. Box 83720, |
|
Illinois |
Illinois residents may contact the Illinois Department of Financial Institutions, Consumer Credit Section with any unresolved questions or complaints about Bakkt or Bakkt Crypto Solutions at Illinois Department of Financial and Professional Regulation Division of Financial Institutions 320 W. Washington Springfield, IL 62786 Tel: 1-888-473-4858 (toll-free). |
|
Indiana |
Bakkt holds a Money Transmitter license issued by the Indiana Department of Financial Institutions. This license does not cover virtual currency transactions. |
|
Kansas |
If you have a complaint, please contact Bakkt or Bakkt Crypto Solutions, LLC at (800) 322-1719 and/or at help@bakkt.com. If you still have an unresolved complaint regarding Bakkt Crypto Solutions, LLC money transmission activity, you may file it by contacting the Consumer Affairs Department. Complete consumer assistance PDF form https://www.osbckansas.org/consumers/complaintform.pdf Attach copies of documents related to your concerns, such as contracts, monthly statements, receipts and correspondence with the company. DO NOT SEND ORIGINAL DOCUMENTS AS THEY WILL NOT BE RETURNED. Mail or fax the completed consumer assistance form and attachments to: Kansas Office of the State Bank Commissioner Attn: Consumer Affairs Department 700 SW Jackson St, Suite 300 Topeka, KS 66603 Telephone: (785) 296-2266 Fax: (785) 296-6037 Email: complaints@osbckansas.org File a Complaint/Consumer Assistance https://www.osbckansas.org/consumers/complaints.html |
|
Louisiana |
Please note the license issued to Bakkt by the Louisiana Office of Financial Institutions does not cover the exchange or transmission of virtual currency. |
|
Maryland |
The Commissioner of Financial Regulation for the State of Maryland will accept all questions or complaints from Maryland residents regarding Bakkt (License No. 12-1890144 and NMLS ID: 1890144) at 1100 N. Eutaw Street, Suite 611, Baltimore, MD 21201 or by phone at (888) 784-0136 Verify Bakkt at: www.NMLSConsumerAccess.org, unique ID 1890144 |
|
Minnesota |
The Minnesota Department of Commerce (www.commerce.state.mn.us) will accept complaints at 651-539-1500 or by mail (Main Office, Golden Rule Building, 85 7th Place East Suite 280 Saint Paul, Minnesota 55101) |
|
Missouri |
If you have a complaint regarding the company’s money transmission activity in the State of Missouri, please contact Bakkt at help@bakkt.com or (800) 322-1719. For unresolved complaints, please contact the Missouri Division of Finance at: |
|
Nevada |
If you have an unresolved complaint regarding Bakkt Crypto Solutions, you may contact the Nevada Department of Business and Industry, Division of Financial Institutions with questions or complaints at 702-486-4120 or via mail at Nevada Financial Institutions Division, 3300 W. Sahara Ave., Suite 425, Las Vegas, NV 89102 |
|
New Hampshire |
If you have a complaint regarding the company’s money transmission activity in the State of New Hampshire, please contact Bakkt or Bakkt Crypto Solutions at help@bakkt.com or (800) 322-1719. For unresolved complaints, please contact the New Hampshire Banking Department at: New Hampshire Banking Department Telephone: (603) 271-3561 |
|
New Mexico |
If your issue is unresolved by Bakkt Crypto Solutions, LLC, you may direct your complaint to the New Mexico Regulations and Licensing Department, Financial Institutions Division. Please visit http://www.rld.state.nm.us/financialinstitutions/overview.aspx for additional information. |
|
New York |
New York Department of Financial Services Bakkt Marketplace, LLC is licensed and regulated as a money transmitter and virtual currency business activity provider by the New York State Department of Financial Services. New York customers can direct unresolved complaints to: Consumer Assistance Unit NYS Department of Financial Services 1 State Street New York, NY 10004 Tel: (800) 342-3736 Website: https://www.dfs.ny.gov/complaint |
|
|
Bakkt Crypto Solutions, LLC is licensed to engage in virtual currency business activity by the New York State Department of Financial Services. If you are located in the State of New York and have a complaint, please first contact our Customer Support Team here at help @bakkt.com. Alternatively, you can reach us at +1 ((800) 342-3736or 10000 Avalon Blvd., Suite 1000, Alpharetta, GA 30009. Customers residing in New York are able to trade the following cryptocurrencies through Bakkt Crypto Solutions, LLC: BCH, BTC, ETH, and LTC. New functionalities offered by Bakkt Crypto Solutions, LLC, including but not limited to, cryptocurrency deposits, withdrawals, staking, and peer-to-peer transfers require approval from NYS DFS per Bakkt Crypto Solutions, LLC’s regulatory obligations in New York State before being made available to customers residing in New York. If you still have an unresolved complaint, you may also direct your complaint to the attention of: the New York State Department of Financial Services, One State Street, New York, NY 10004-1511; +1 (212) 709-1540. Please visit https://www.dfs.ny.gov for additional information. Please note the following disclosures associated with virtual currency:
|
|
North Carolina |
If you have a complaint regarding Bakkt’s or Bakkt Crypto Solutions, LLC’s money transmission activity in the State of North Carolina, please contact Bakkt or Bakkt Crypto Solutions at help@bakkt.com or (800) 322-1719. For unresolved complaints, please contact the North Carolina Commissioner of Banks at: North Carolina Commissioner of Banks |
|
North Dakota |
If you have a complaint regarding the company’s money transmission activity in the State of North Dakota, please contact Bakkt or Bakkt Crypto Solutions at help@bakkt.com or (800) 322-1719. For unresolved complaints, please contact the North Dakota Department of Financial Institutions at: 200 Schafer Street, Suite G |
|
Ohio |
If you have a complaint regarding the company’s money transmission activity in the State of Ohio, please contact Bakkt or Bakkt Crypto Solutions at help@bakkt.com or (800) 322-1719. For unresolved complaints, please contact the Ohio Department of Commerce at: Division of Financial Institutions Telephone: (866) 278-0003 |
|
Oregon |
If you have a complaint regarding the company's money transmission activity in Oregon, please contact Bakkt or Bakkt Crypto Solutions at help@bakkt.com or (800) 322-1719. For unresolved complaints, please contact the Oregon Division of Financial Regulation at: Oregon Division of Financial Regulation Telephone: (866) 814-9710 |
|
Puerto Rico |
If you have a complaint regarding the company's money transmission activity in Puerto Rico, please contact Bakkt or Bakkt Crypto Solutions at help@bakkt.com or (800) 322-1719. For unresolved complaints, please contact the Puerto Rico Office of the Commissioner of Financial Institutions at: Office of the Commissioner of Financial Institutions |
|
Rhode Island |
If you have a complaint regarding the company’s money transmission activity in the State of Rhode Island, please contact Bakkt or Bakkt Crypto Solutions at help@bakkt.com or (800) 322-1719. For unresolved complaints, please contact the Rhode Island Department of Business Regulation at: State of Rhode Island Department of Business Regulation Telephone: (401) 462-9503 |
|
South Carolina |
If you have a complaint regarding the company’s money transmission activity in the State of South Carolina, please contact Bakkt or Bakkt Crypto Solutions at help@bakkt.com or (800) 322-1719. For unresolved complaints, please contact the South Carolina Money Service Division at: Money Service Division |
|
Tennessee |
Please note that this license and the required surety bond do not cover the transmission of virtual currency. Bakkt is licensed by the Tennessee Department of Financial Institutions as a money transmitter. The Tennessee Department of Financial Institutions does not regulate virtual currency. |
|
Texas |
If you have a complaint, first contact the consumer assistance division of Bakkt at help@bakkt.com or (800) 322-1719. If you still have an unresolved complaint regarding the company's money transmission or currency exchange activity, please direct your complaint to: Texas Department of Banking, 2601 North Lamar Boulevard, Austin, Texas 78705, www.dob.texas.gov. |
|
Virginia |
Bakkt is licensed by the Virginia State Corporation Commission as a money transmitter, but such license does not cover the transmission of virtual currency (Bitcoin). |
|
Washington |
Please note the following disclosures associated with virtual currency:
If you have a complaint, first contact the consumer assistance division of Bakkt or Bakkt Crypto Solutions at help@bakkt.com or (800) 322-1719 and if you still have an unresolved complaint regarding the company’s money transmission activity, please contact the Washington State Department of Financial Institutions, Division of Consumer Services, using one of the following methods: You may, file a complaint at: https://dfi.wa.gov/consumers/file-complaint |
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Wyoming |
If you have a complaint regarding the company’s money transmission activity in the State of Wyoming, please contact Bakkt at help@bakkt.com or (800) 322-1719. For unresolved complaints, please contact the Wyoming Department of Audit at: Wyoming Department of Audit Hathaway Building |
- BAKKT CLEARING, LLC REGULATORY INFORMATION
Historical Data;
Bakkt Clearing, LLC has not held customer funds since Friday, February 1, 2019, when it was operating as Rosenthal Collins Group, LLC. Therefore, beginning on Monday, February 4, 2019, there is no historical segregated or secured funds data for Bakkt Clearing, LLC.
Download Previous Years Financial Statement
Notices
The NFA provides certain FCM financial data available on their website
The CFTC also provides certain FCM financial data available on their website
- BAKKT TRUST COMPANY LLC CUSTOMER COMPLAINT INFORMATION
Please send any customer complaints to 10000 Avalon Boulevard, Suite 1000, Alpharetta, Georgia 30009; Help@bakkt.com; or call (800) 322-1719.
You may also send complaints directly to the New York Department of Financial Services via the contact information below:
Mail: New York State Department of Financial Services Attn: Consumer Affairs, One Commerce Plaza, Albany, NY 12257
Telephone Numbers: (800) 342-3736; (212) 480-6400; or (518) 474-6600
Email: consumer@dfs.ny.gov
Website: https://www.dfs.ny.gov/complaint