Kraken drops Monero spending questions but keeps a $1,500 rolling 30-day withdrawal cap for individuals
Kraken co-CEO Arjun Sethi said customers who bought and withdrew Monero no longer need to answer questionnaires asking about their employers, intended use of the coins, and other details. He said the questions about post-withdrawal use were unjustified and not required by regulation, while Kraken may still request evidence documenting the source of customers’ funds under its anti-money-laundering controls. The reversal followed criticism of scrutiny directed at a young customer with substantial funds. It does not change Kraken’s regional Monero restrictions or its cryptocurrency-specific XMR transfer limits. Kraken previously ended Monero trading and deposits for EEA customers, and its published policy sets rolling 30-day XMR deposit and withdrawal caps.
