this post was submitted on 01 Oct 2024
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Monero

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This is the lemmy community of Monero (XMR), a secure, private, untraceable currency that is open-source and freely available to all.

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Kraken is delisting Monero in the EEA (Europe) (jlai.lu)
submitted 2 months ago* (last edited 2 months ago) by [email protected] to c/[email protected]
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Sent by email :

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

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[–] [email protected] 2 points 2 months ago

Give it time. I never used LocalMonero since I was happy with instant exchanges but I came close to using it just before it got shut down. At the time, there were only 2-3 acceptable sellers of XMR for Canadian Dollars and the best one kept having banking issues. There are currently 2 acceptable sellers of XMR for Canadian Dollars, which means that in Haveno's short life it's getting close to replacing LocalMonero for me. My hope is that eventually it gets integrated with Unstoppable Swap and BasicSwapDEX (and maybe Serai DEX) since there's no technical reason it can't automatically mirror the offers. Once that happens, it'll have more than enough liquidity for anyone.