Monero declines 5%, Kraken discontinues support in EEA amid regulatory demands
Kraken will end support for Monero (XMR) in the European Economic Area (EEA) by October 31, 2024, due to regulatory changes. Trading and deposits for all XMR markets will cease, and open orders will be closed at that time. Users can withdraw their Monero until December 31, 2024; unclaimed assets will convert to Bitcoin and be distributed by January 6, 2025. Kraken previously delisted Monero in Ireland and Belgium without disclosing reasons. Blockchain analyst Riccardo Spagni suggested that the delisting reflects Chainalysis' challenges in tracking Monero transactions. A leaked Chainalysis video raised questions about Monero's privacy features. Following the announcement, XMR's value dropped over 5%, aligning with a broader decline in digital asset prices amid rising Middle East tensions.
