Kraken is delisting Monero in the EEA (Europe) (jlai.lu)

submitted 1 month ago* (last edited 1 month ago) by azalty@jlai.lu to c/monero@monero.town

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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

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[-] boldsuck@scribe.disroot.org 2 points 1 month ago

The 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.

For this purpose https://serai.exchange/ & https://unstoppableswap.net/ is being developed. You are welcome to help further develop, beta test or donate so that developers get paid.

If more people helped instead of just complaining and waiting for others to do it, things would be much better in the Monero community.

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.

?? Haveno is a Bisq fork and it has been clear for 4 years what it will be. A Bisq fork without DAO and mainly a Fiat <-> XMR gateway. Because that is exactly what was needed, which the latest news from Kraken makes clear again.