Kraken Ends Support for Monero in EEA
Kraken has recently announced that it will no longer support Monero (XMR) trading in the European Economic Area (EEA) as of October’s end, as stated in an Oct. 1 release.
The exchange attributed this decision to the changing regulatory landscape in the region.
According to Kraken, the trading and deposits of XMR in markets such as XMR/USD, XMR/EUR, XMR/BTC, and XMR/USDT will be halted for EEA customers on October 31, 2024 at 15:00 PM UTC.
Any pending XMR orders will be automatically closed at that time.
However, customers holding Monero will have until December 31, 2024 to withdraw their assets. After this deadline, any unclaimed Monero will be automatically converted to Bitcoin.
These converted funds will be distributed to users who haven’t withdrawn their Monero by January 6, 2025. This is not the first time Kraken has taken action against Monero in the EEA.
