Summary of Kraken to end Monero support in European Economic Area
Summary of Kraken to end Monero support in European Economic Area
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The source article:
Kraken has announced that it will stop trading and deposits for Monero in the European Economic Area from October 31, 2024, citing regulatory and compliance obligations. The exchange will convert any remaining tokens into Bitcoin if users do not withdraw them by December 31, 2024. This decision follows regulatory developments in the European Union prohibiting the use of privacy-focused tokens like Monero.
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The source article:
quoting nevent1q…whecKraken to end Monero support in European Economic Area
https://images.cointelegraph.com/cdn-cgi/image/format=auto,onerror=redirect,quality=90,width=1200/https://s3.cointelegraph.com/uploads/2024-10/01924cdf-3915-7ea5-ba3b-a2be7ccf3ccc
Monero’s price fell by 8% a day after Kraken announced it would stop supporting the privacy-focused cryptocurrency.
https://cointelegraph.com/news/kraken-ends-monero-support-european-economic-area
Kraken has announced that it will stop trading and deposits for Monero in the European Economic Area from October 31, 2024, citing regulatory and compliance obligations. The exchange will convert any remaining tokens into Bitcoin if users do not withdraw them by December 31, 2024. This decision follows regulatory developments in the European Union prohibiting the use of privacy-focused tokens like Monero.