Kraken, the cryptocurrency exchange, announces its plan to delist the XMR privacy coin for users in Belgium and Ireland. The deactivization will be accessed on June 10th and the transactions with XMR will be ceased as of May 10th, respectively.
However, Kraken asks the users who have close positions at Margin to Monero by May 10, to avoid the forced closure.
This move by Kraken follows similar actions taken by other major exchanges, including Binance and OKX, which delisted Monero earlier this year. Binance, in particular, initiated the delisting process in February and had previously halted Monero trading in Belgium in September 2023.
The decision aligns with the evolving regulatory landscape, notably the impending European Union Anti-Money Laundering Regulation (AMLR). This regulation, nearing final approval, prohibits crypto-asset service providers from offering accounts for privacy coins, in line with the existing EU legislation.
Monero’s price has remained relatively stable in the past 24 hours, hanging around $134.12 despite the announcement of its delisting from Kraken’s platform for customers in Ireland and Belgium.
