Shakepay review: licences, terms and gambling clause
Can you deposit to a casino from Shakepay?
Shakepay's terms restrict gambling without banning it outright, in Customer Account Agreement, section 7.1, Unlawful activity; a deposit to a casino not licensed where you live can breach them. Its terms let it freeze or suspend an account without prior notice. 1 registration is confirmed in an issuing register. 6 points are not verified. No primary-source incident is recorded.
Documents last checked Reviewed by CryptoGuardz Register Desk, editorial desk
Disclosure: CryptoGuardz has no commercial relationship with Shakepay, earns nothing if you open an account there, and has not contacted the company or given it notice of this entry. Every statement below is either a verbatim quote from a document Shakepay publishes or a statement about a public register, and both carry the date they were read. Corrections go to the corrections page.
1. What this means for you
Consequences first, in the conditional, each one produced by a clause in a document Shakepay publishes itself. Every line links to that clause, quoted in full and dated.
- Your account can be frozen without notice if Shakepay decides it should be The suspension clause is discretionary and its list of grounds closes with a catch-all that swallows the list. The clause is quoted in full below.
- Your withdrawal can be suspended if Shakepay decides an incident on the platform requires it The withdrawal clause sets no maximum duration and no external test for when an incident is resolved.
- You are probably not covered by the authorisation you can see if you are outside the European Economic Area The confirmed authorisation is held by the European entity named on it, and the entity that contracts with a user elsewhere is a different company.
- You may breach the terms if the casino you fund is unlicensed where you live Shakepay's clause covers unlawful, unregulated or illegal gambling rather than gambling as such. It is quoted in section 10.
2. What this entry records, and what it does not
This register publishes no number for an exchange. The payout score on the casino register has five defined components and a published arithmetic; no equivalent instrument exists here, and inventing one to fill the space would be a measurement nobody made. What follows instead is a field-by-field account of what was read, where it was read and when.
| Binding terms | Read in full 8 clauses captured verbatim across 6 topics, retrieved 2026-10-09 |
|---|---|
| Contracting entity | Shakepay Inc.Jurisdiction Canada (federal corporation headquartered in Montreal, per the Customer Account Agreement) · no company number stated |
| Registration check | 1 confirmed in the issuing authority's own registerESMA interim MiCA register, published CSV, read 2026-10-09 |
| Proof of reserves | No dataNo exchange-hosted disclosure page could be loaded by any route attempted. |
| Insolvency outcome | Stated in the terms Quoted in section 7 |
| Withdrawal test | Not measuredNo first-party deposit or withdrawal has been run against this exchange. It would require funding an account, which this register has not done. Until it has, nothing here is a measurement of how fast the exchange pays. |
| On-chain reserve verification | Not measuredNo independent reconstruction of the Merkle tree or of the exchange's wallet holdings has been attempted. |
3. What we could not verify
Every entry carries this section. The gaps are published because a reader deserves the limits of the check as well as its results.
- The FINTRAC money services business registration. The FINTRAC registry is disallowed by robots.txt.
- Shakepay Inc.'s federal corporation number. Not in the agreement; Corporations Canada not read.
- CIRO's own dealer member listing. ciro.ca/investors/choosing-investment-advisor/dealers-we-regulate returned a 404; CIRO membership is taken from the regulators' decision.
- Any proof of reserves. No page was retrieved.
- The identity of Shakepay's custodians. Not named in the agreement or in the parts of the decision read.
- Incidents. No regulator action, court filing or company post-mortem concerning Shakepay was retrieved. That is not a finding that none exists.
4. Who you are contracting with
The counterparty named in the binding document, not the brand on the website. This is the company a claim would be brought against and whose insolvency estate a user would be a creditor of.
| Named counterparty | Shakepay Inc.source · retrieved 2026-10-09 |
|---|---|
| Jurisdiction of incorporation | Canada (federal corporation headquartered in Montreal, per the Customer Account Agreement) |
| Company number | Not disclosedNo company number appears in the binding document, so the entity cannot be looked up in any companies register from that document alone. |
The document read is the Shakepay Customer Account Agreement at legal.shakepay.com/master. Section 1.1 names "Shakepay Inc., a Canadian federal corporation headquartered in Montreal, Canada". No effective date appears in the text read; section 1.4 says an amended agreement becomes effective when posted. The page is about 104,000 characters; the last 3,900 were not read.
The entity name is confirmed by the securities regulators' decision of 8 January 2025, which names Shakepay Inc. as the filer. The federal corporation number was not found in the agreement and Corporations Canada was not read, so the number is recorded as not disclosed.
shakepay.com/terms returned a fetch error.
This Agreement is governed by the laws of the Province of Quebec and the laws of Canada (as applicable)legal.shakepay.com
5. Registrations, claimed and confirmed
1 of the registrations Shakepay claims was found in the issuing authority's own public register. A confirmed registration covers the entity named on it and nothing else. The securities registration is confirmed in the Canadian Securities Administrators' own list and in the regulators' decision. It is a dealer registration with custody conditions, not an anti-money-laundering registration. The FINTRAC registration could not be read.
| Authority | Kind | Confirmed | What it covers |
|---|---|---|---|
| Canadian securities regulators (Autorité des marchés financiers as principal regulator, Ontario Securities Commission and the other provincial and territorial regulators), investment dealer registration and crypto asset trading platform decision; member of the Canadian Investment Regulatory Organization (CIRO) | authorisation | yes | Confirmed. The Canadian Securities Administrators list of crypto platforms authorized to do business with Canadians, last updated 18 September 2026, carries Shakepay Inc. as a "Crypto Asset Trading Platform" with decisions dated 8 January 2025 and 25 May 2023, and no jurisdiction qualifier. The 8 January 2025 decision states: "The Filer is currently registered in the category of investment dealer in all of the Applicable Jurisdictions." and records the filer as a CIRO dealer member. It grants prospectus relief for crypto contracts and trade reporting relief, on terms that include holding "not less than 80% of the total value of all Crypto Assets held on behalf of clients" with Acceptable Third-party Custodians and, outside Alberta, British Columbia, Manitoba and Quebec, a $30,000 twelve-month net acquisition limit on crypto assets other than Specified Crypto Assets (Bitcoin, Ether, Bitcoin Cash, Litecoin and compliant value-referenced crypto assets). "This Decision shall expire on January 8th, 2027." It covers Shakepay Inc. only. A separate entity, Shakepay Credit Inc., is listed as a crypto-backed lending platform with a decision dated 9 April 2026. |
| Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), money services business registry | authorisation | no | Claimed in section 4.1 of the Customer Account Agreement: "We are also registered with the Financial Transactions and Reports Analysis Centre of Canada", as a money services business dealing in virtual currencies and money transfers, with no registration number. An MSB registration is an anti-money-laundering registration, not a licence. Not confirmed: the FINTRAC MSB registry search is disallowed to automated readers by robots.txt and was not read. |
| European Securities and Markets Authority (MiCA register of non-compliant entities) | adverse listing | not listed | Negative check. The official ESMA register of non-compliant entities providing crypto-asset services was retrieved on 9 October 2026 (173 data rows, ending with a complete row) and searched. The string Shakepay does not appear in it. |
6. Proof of reserves
No Shakepay-hosted proof of reserves page could be loaded. No proof of reserves page was retrieved for this entry. Recorded as no data, not as not disclosed. The custody terms in the regulators' decision are a regulatory condition, not a reserve attestation.
Nothing is recorded here as a result. The field is No data rather than no, because a page that would not load is not the same as a disclosure that does not exist, and this register does not publish the two as though they were.
7. Custody, segregation and insolvency
What the binding document says about where your coins sit and what happens to them if the exchange fails, quoted rather than characterised.
Your Funds are held in accounts segregated from Shakepay’s assetslegal.shakepay.com
In case of the insolvency and/or bankruptcy of Shakepay or our custodianslegal.shakepay.com
8. Freezing your account
2 clauses, quoted in the order they appear in the document. Read the last one first: it is the ground that swallows the others.
suspend your Account (also called a “freeze”), terminate your Accountlegal.shakepay.com
Shakepay may, in its sole discretion and without prior notice or justification refuse to open an Accountlegal.shakepay.com
9. Suspending withdrawals
Shakepay reserves the right to suspend any transaction, withhold Funds or Crypto Assetslegal.shakepay.com
We may also hold a transfer from your Account indefinitely in accordance with other internal policieslegal.shakepay.com
10. Sending funds to a casino from Shakepay
Shakepay's terms restrict gambling only where it is unlawful, unregulated or illegal. Whether a deposit to a given casino breaches them depends on that casino's licence and on where you are.
any illegal gambling activitieslegal.shakepay.com
blocking, freezing, suspending or closing your Account or any order requests or transactionslegal.shakepay.com
Section 7.1 bars using the Services to pay for, support or take part in illegal gambling, alongside fraud, money laundering and terrorist activity. It is limited to illegal gambling and names no casinos. The consequence quote is from section 7.6. The help article on banned addresses (17 September 2024) does not mention gambling; it says Shakepay tracks "lists of sanctioned or restricted addresses provided by regulatory authorities".
11. Which networks Shakepay withdraws USDT on
No dataThe network list could not be confirmed. See the note below.
Shakepay does not hold USDT. The help article (23 July 2026) says Shakepay supports deposits and custody for "bitcoin (BTC) on the Bitcoin network", "ether (ETH) on the Ethereum network" and "USD Coin (USDC) on the Ethereum network" only. USDT is named only as an ERC-20 token that Auto-swap may convert on receipt (on Ethereum, Arbitrum, Polygon and Base). No USDT withdrawal network exists to count. The article covers deposits and custody, not withdrawals, so USDC withdrawal on Ethereum is not recorded as verified. Source. Which DEXes operate on each of those chains is in the DEX register.
12. Amendment, liquidation, arbitration and governing law
The clauses that decide what the contract can become, what can be done to an open position, and where a dispute would be heard.
we may amend the Agreement at any time by posting a revised version of the Agreement on ourlegal.shakepay.com
13. Public record
No incident is recorded for Shakepay. That is not a clean bill of health. It means no primary source, meaning a regulator action, a court filing or a company post-mortem, was retrieved within this collection. Absence of a record here is the absence of a search result.
14. Who should avoid Shakepay
Anyone outside the European Economic Area who is relying on the authorisation they can see. The confirmed authorisation is held by the European entity named on it and covers that company's clients. A user elsewhere is contracting with a different entity under different terms.
Related entries
Or read the whole exchange register, the same method applied to wallets and to crypto casinos, the clause library at clause watch, or how this register works.