On June 10, the Kraken exchange will delist the anonymous cryptocurrency Monero (XMR) for users from Ireland and Belgium.
Deposits and trading in XMR will be suspended from May 10. After this date, all transactions will be automatically closed.
The withdrawal will remain open until the coin is completely eliminated. Upon the expiration of the specified period, all XMR not withdrawn from the balance will be converted into bitcoin.
Kraken has released a statement ahead of the imminent appearance in the European Union of a new package of measures to combat money laundering and terrorist financing, which will tighten the rules in force for the crypto industry.
In January 2024, the authorities preliminarily agreed on the provisions. By mid—2025, the EU will also have a new anti-money laundering regulatory body, AMLA.
In February, Binance exchange also announced the delisting of Monero along with Aragon (ANT), Multichain (MULTI), Vai (VAI). At the beginning of the year, the trading platform classified Zcash and XMR as high-risk crypto assets.
In response to the decision on delisting, the coin developers stated that they would never compromise on privacy issues and advised trading the token on other platforms.
Recall that in January, OKX also excluded several privacy-oriented coins, including DASH, XMR, ZEC and ZEN.