18 Nov 2021 [events]

Kraken set to drop Monero support for UK customers on 26 November 2021

Kraken1 looks set to drop Monero support for UK customers, as users report23456 on emails received today from the company:

We are reaching out regarding an update to trading and funding of Monero (XMR) on Kraken.

In compliance with UK regulations, Kraken (Payward Ltd) will no longer be supporting Monero (XMR) on its platform.

Here are the relevant dates:

23 November 2021

26 November 2021

Kraken has launched Monero trading on their platform in 20177.

Although this move doesn’t seem correlated with any new piece of regulation, it is most probably only a matter of time until Kraken will completely delist XMR everywhere.

All CEXs will eventually have to comply with AML standards imposed by regulators such as UK’s Financial Conduct Authority (FCA)8.

There are alternatives9 and this is the best time to make the transition: atomic swaps10, Localmonero11, CakeWallet12, Bisq13 and soon Haveno14.

  1. https://kraken.com 

  2. https://libredd.it/r/CryptoCurrency/comments/qwww81 

  3. https://libredd.it/r/CryptoCurrency/comments/qwv28k 

  4. https://libredd.it/r/Monero/comments/qwxzfu 

  5. https://libredd.it/r/Monero/comments/qwuycs 

  6. https://libredd.it/r/Monero/comments/qwv2vr 

  7. https://blog.kraken.com/post/214/kraken-launches-monero-trading/ 

  8. https://www.theblockcrypto.com/linked/124437/kraken-subsidiary-crypto-facilities-receives-fca-approval-in-the-uk 

  9. https://kycnot.me 

  10. https://www.getmonero.org/2021/08/20/atomic-swaps.html 

  11. https://localmonero.co/ 

  12. https://cakewallet.com 

  13. https://bisq.network 

  14. https://haveno.exchange