Kraken, a major cryptocurrency exchange, is planning to delist Monero (XMR) in Ireland and Belgium starting in June.
Delisting Timeline
- May 10, 2024: Trading and deposits for XMR will be halted.
- June 10, 2024: Withdrawals for XMR will be halted.
- June 10, 2024: Any remaining XMR balances will be automatically converted into Bitcoin (BTC).
Impact on XMR
Monero has been delisted from other major exchanges in the past, including Binance. This has led to significant price fluctuations. However, XMR has since recovered and is currently trading at $134.
Reasons for Delisting
Kraken did not provide specific reasons for the delisting. However, it may be related to regulatory concerns about Monero’s privacy features.
Alternative Options
Users in Ireland and Belgium will need to find alternative ways to trade or hold Monero after the delisting. They may consider using decentralized exchanges or non-custodial wallets.
