Kraken will stop supporting Monero in the European Economic Area by October 31, 2024, and all assets must be withdrawn by December 31, 2024, otherwise they will be automatically converted into Bitcoin with the distribution of funds until January 6, 2025 💰🔄

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Kraken will stop supporting Monero in the EEA by the end of October 2024 due to regulatory changes. Monero trading and deposits will be halted on October 31, 2024, at 15:00 UTC. Users will be able to withdraw their XMR until December 31, 2024, after which any remaining balances will be automatically converted into Bitcoin at the market rate.

This decision is related to new EU rules aimed at combating money laundering and tightening control over privacy-focused cryptocurrencies.

This material was prepared by Khachatur Davtyan, developed and translated by artificial intelligence.

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