Kraken to Delist Monero in Belgium and Ireland

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On June 10, Kraken will remove Monero (XMR), a cryptocurrency known for its anonymity, from its exchange for users from Ireland and Belgium.

Starting May 10, deposits and trades in XMR will no longer be available, and all open transactions will be automatically closed. However, withdrawals will still be possible until the coin is completely removed, at which point any remaining XMR balances will be converted into Bitcoin.

Kraken announced this decision ahead of a new set of measures being introduced to combat money laundering and terrorist financing in the European Union.

These measures will tighten regulations for the crypto industry. The tentative provisions for these measures were agreed upon by authorities in January 2024, with the EU expected to have a new anti-money laundering regulator, the AMLA, in place by mid-2025.

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