Monero Faces Another Blow as Kraken Delists XMR in Ireland and Belgium

Kraken announces delisting of Monero (XMR) in Ireland and Belgium due to regulatory concerns, adding to previous exchanges’ actions. XMR price remains stable at $132 post-announcement.

The privacy-focused cryptocurrency Monero (XMR) continues to encounter challenges as another major exchange, Kraken, declares its decision to cease support for XMR trading in certain European jurisdictions. This latest delisting, prompted by regulatory considerations, follows a series of similar actions by prominent exchanges.

Kraken move to delist XMR in Ireland and Belgium, effective June 10, 2024, reflects the evolving regulatory landscape surrounding privacy coins in the European Union. While the exact rationale behind Kraken decision remains undisclosed, it aligns with recent regulatory measures targeting privacy-focused cryptocurrencies.

This delisting announcement adds Kraken to the growing list of exchanges, including Binance and OKX, that have either delisted Monero or announced plans to discontinue its support. Despite this setback, the price of XMR remains relatively stable at $132, showing resilience amid regulatory headwinds.

However, continued regulatory scrutiny and delistings may pose challenges for Monero future price performance, with traders closely monitoring key support levels to gauge market sentiment.

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