Kraken continuously reviews listed tokens to determine the impact from regulatory changes on our offerings.
As one of the world’s largest cryptocurrency platforms, we are constantly working to support the most comprehensive set of digital assets possible in alignment with applicable regulatory and compliance obligations.
What’s changing?
After thorough consideration, and exploration of all viable alternatives, we concluded we have no choice but to delist Monero (XMR) in the European Economic Area (EEA) due to regulatory changes.
We did not take this decision lightly and remain committed to providing our European clients with an exceptional trading experience.
What’s next?
On October 31st 2024 at 15:00 PM UTC, we will halt trading and deposits of all XMR markets (XMR/USD, XMR/EUR, XMR/BTC, XMR/USDT) for clients registered in the EEA. Any open XMR orders will also be automatically closed at this time.
Note: Clients will remain able to withdraw XMR on Kraken until December 31st, 2024.
December 31st 2024 at 15:00 PM UTC is the deadline for withdrawing XMR. Any clients still holding an XMR balance after this date will have their XMR automatically converted to BTC by Kraken at the going market rate.
By January 6th 2025 23:59 PM UTC, we will distribute the converted XMR as BTC back to any clients who held XMR at the withdrawal deadline.
Any clients who hold an XMR balance at the time of the withdrawal deadline will be automatically included in the conversion of XMR to BTC.
As a leading cryptocurrency exchange, Kraken remains mission-driven and committed to supporting the most comprehensive set of digital assets possible, in alignment with our regulatory and compliance obligations.
These materials are for general information purposes only and are not investment advice or a recommendation or solicitation to buy, sell, stake, or hold any cryptoasset or to engage in any specific trading strategy. Kraken makes no representation or warranty of any kind, express or implied, as to the accuracy, completeness, timeliness, suitability or validity of any such information and will not be liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use. Kraken does not and will not work to increase or decrease the price of any particular cryptoasset it makes available. Some crypto products and markets are unregulated, and you may not be protected by government compensation and/or regulatory protection schemes. The unpredictable nature of the cryptoasset markets can lead to loss of funds. Tax may be payable on any return and/or on any increase in the value of your cryptoassets and you should seek independent advice on your taxation position. Geographic restrictions may apply.
