Kraken notifies users in Belgium and Ireland that they will be removing the privacy coin XMR from their cryptocurrency exchange offerings starting May 10th. Transactions involving XMR will no longer be permitted as of this date. The delisting process is set to be completed by June 10th.
Users with near positions on Margin trading Kraken’s Monero need to act before May 10 to prevent automatic liquidation.
Kraken’s decision to remove Monero from its platform mirrors similar steps taken by notable exchanges like Binance and OKX. In February, Binance began the process of delisting Monero, while earlier, it had stopped Monero trading in Belgium as of September 2023.
The choice is in harmony with the developing regulatory environment, specifically the upcoming European Union Anti-Money Laundering Regulation (AMLR). This regulation, set to be approved soon, prevents crypto-asset providers from offering privacy coin accounts, consistent with current EU laws.
Monero’s price has stayed fairly consistent over the last 24 hours, hovering near $134.12, even after Kraken announced that they would be removing it from their platform for users in Ireland and Belgium.
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2024-04-11 19:00