Kraken, one of the major cryptocurrency exchanges, has decided to cease Monero (XMR) trading and deposits for its customers in Ireland and Belgium starting May 10.
The announcement, made via a public notice, emphasized the need for users to close all margin trading positions by the deadline; otherwise, they will be closed automatically.
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The delisting process will be completed on June 10, marking the end of XMR withdrawals. Kraken clarified that any remaining XMR balances in user accounts post-delisting would be automatically converted into Bitcoin (BTC).
Despite this news, Monero's market performance has remained relatively stable, with its value being $131.73 at the time of writing.
Kraken's decision echoes that made by Binance, which announced XMR's removal in February. This reflects a trend among crypto exchanges to reassess their listings, particularly privacy-focused cryptocurrencies, which have been under scrutiny by global regulators.
Such delistings highlight the ongoing adjustments made by crypto exchanges to adhere to evolving legal requirements.
