Kraken to Delist Monero in Ireland and Belgium

On June 10, the exchange Kraken will delist the privacy-focused cryptocurrency Monero (XMR) for users in Ireland and Belgium.

Deposits and trading in XMR will be suspended from May 10. After this date, all trades will be automatically closed.

Withdrawals will remain open until the complete removal of the coin. Once the deadline passes, any XMR remaining in accounts will be converted to Bitcoin.

Kraken issued a statement ahead of the European Union’s impending introduction of a new package of measures aimed at combating money laundering and terrorism financing, which will tighten existing regulations for the crypto industry.

In January 2024, authorities provisionally agreed on the measures. By mid-2025, the EU will establish a new anti-money laundering regulator — the AMLA.

In February, the exchange Binance also announced the delisting of Monero alongside Aragon (ANT), Multichain (MULTI), and Vai (VAI). Earlier this year, the trading platform classified Zcash and XMR as high-risk crypto assets.

In response to the delisting decision, Monero developers stated they would never compromise on privacy issues and advised trading the token on other platforms.

Earlier in January, OKX also removed several privacy-oriented coins, including DASH, XMR, ZEC, and ZEN.