A Reddit user using the pseudonym tryM3B1tch published an alleged text of a letter from the Kraken cryptocurrency exchange, stating that access to trading Monero (XMR) would be closed in the United Kingdom.
Several users created similar threads with the same document text.
According to the letter, the decision was made to comply with regulatory requirements in the United Kingdom. The Kraken team apologises for the inconvenience caused.
From 23 November, UK-based users will lose the ability to increase margin positions in Monero, but will be able to reduce them. On 26 November the platform will forcibly close them and cancel all open XMR orders.
UK Kraken users will not be able to top up their balances with the anonymous cryptocurrency. They will still be able to withdraw Monero to other wallets and exchanges. Instant buy and sell services for XMR in trading pairs with Bitcoin, US dollars and euros will also be unavailable.
In November 2020, ShapeShift delisted privacy-focused coins Monero, Dash and Zcash. In the company explained the decision as due to possible regulatory issues.
From January 15, 2021, the bitcoin exchange Bittrex also ceased trading Monero, Dash and Zcash.
In November 2021, Kraken’s UK subsidiary Crypto Facilities received approval from the Financial Conduct Authority to operate in the country.
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