Kraken is delisting Monero in the EEA (Europe)
Kraken is delisting Monero in the EEA (Europe)
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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.
We appreciate your understanding and ongoing support as we navigate the evolving regulatory landscape.
Link found on r/Monero - posted by u/MoneroFox : https://support.kraken.com/hc/en-us/articles/support-for-monero-xmr-in-europe
time for peeps to start switching to haveno!
12Sure is, maybe that will drive our average transaction count per day above 8.4, which is where it was at the end of September.
5The reason I don't use Haveno is because, all I've wanted since the beginning, was a simple UI like the now-defunct Wizardswap where I could say "Convert X XMR for Y BTC" and that was it. A user interface similar to Morphtoken.
On the backend, Wizardswap liquidity was provided by users who had crypto sitting in a multiwallet, and they had exchange rates they were willing to accept. "Only swap XMR for LTC if the rate is 5% in my favor", "Only swap BCH to BTC if the rate is 10% in my favor", etc.
Back when Haveno started, it seemed like they were going to go down this route, but alas, we have an overcomplex GUI and network designed for fiat on/off ramp that, while many people ask for, doesn't bring much liquidity and doesn't have many people use.
2
It's time to switch to Exolix, Trocador and other instant crypto exchanges
4Just the EEA. In what regions do they still provide it?
3Woops I omitted this crucial information from the title, fixed. Sorry for that.
3At least in the US. You could register an LLC and trade from Europe. Costs about €1500.
3US only now i think, but i wont swear to that
2I'm curious how long this will last. Kraken is the last rock in the storm. I can imagine that Cake/Trocador/Changenow/Majestic/Godex/etc. will also buy XMR from Kraken. Kraken is the only Fiat XMR gateway I know of. Fed and Gov could have simply closed this last fiat on/off ramp. It may be that Haveno makes it easier for US-Kraken XMR to continue to exist.
1
Use BasicSwapDEX.com and run your Node for Swaps.
1