Kraken plans to delist Monero in Europe due to regulatory requirements, XMR drops 5%

ChainCatcher news, according to Cryptoslate, affected by Kraken's announcement that it will stop supporting Monero (XMR) in the European Economic Area (EEA) at the end of October, the price of Monero has dropped over 5% in the past 24 hours to $144.

Kraken stated that this move is due to regional regulatory changes and will cease all XMR market trading and deposits on October 31. Users must withdraw their assets by December 31, 2024, and any unwithdrawn Monero will be automatically converted to Bitcoin and distributed to users on January 6, 2025.