Kraken to delist XMR in EEA on October 31 2024 due to MiCA 'regulatory changes'

Kraken¹ has announced plans² to delist Monero from their platform, for European Economic Area (EEA) users, on October 31 2024, apparently due to regulatory changes resulting from the implementation of MiCA³ next year⁴:

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.

Timeline

Oct 31 2024 1500 UTC: trading and deposits halted; XMR positions auto-closed
Dec 31 2024 1500 UTC: withdrawals halted; remaining XMR balances auto-converted to BTC
Jan  6 2025 2359 UTC: distribution of converted XMR as BTC back to users

Users are advised to close any positions by Oct 31 and withdraw their XMR from the platform before the Dec 31 deadline.

It is worth noting that Kraken has already discontinued XMR support in Germany, Belgium, and Ireland earlier this year, as reported⁵.

This is an ongoing story and the report will be updated when new information is available.