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- In a new article, crypto exchange Kraken says it will delist Monero ($XMR) in two European countries in the coming months.
One of the biggest centralized crypto exchange platforms in the world, Kraken, is planning on delisting a popular privacy-focused altcoin in two European nations in the coming months.
In a new article, crypto exchange Kraken says it’s going to be delisting Monero ($XMR), a blockchain focused on anonymity that launched in 2014, from Ireland and Belgium starting in June.
According to Kraken, after June 10th, all remaining $XMR on the crypto exchange will be automatically converted into Bitcoin ($BTC), the top crypto asset by market cap.
“We will be delisting Monero ($XMR) from the Kraken platform, for clients in Ireland and Belgium, on June 10, 2024. As of May 10, 2024 trading and deposits will be halted for $XMR.
All margin positions will need to be closed by May 10, 2024 or these positions will be auto-closed. We will halt withdrawals of $XMR on Kraken on June 10, 2024. At this time, any remaining $XMR balances will be auto-converted into $BTC.”
In February, $XMR itself was delisted from Binance, the world’s largest crypto exchange platform by volume, and subsequently crashed 32%.
At the time, Binance went on a delisting spree, expelling digital assets such as decentralized governance network Aragon (ANT), artificial intelligence-focused blockchain Vaiot (VAI) and enterprise blockchain platform Multichain (MULTI), as well as $XMR.
Being delisted earlier this year caused $XMR to plunge to $108.80.
However, the 57th-ranked digital asset has since recovered and is now trading for $134 at time of writing, a 1.3% gain during the last 24 hours.
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