Users with Monero balances on Kraken after the deadline will have their coins automatically converted into Bitcoin.
Crypto exchange Kraken announced that it is winding down support for the Monero (XMR) privacy token for its customers based in Ireland and Belgium.
Kraken posted a notice saying it would halt the trading and deposits for XMR from May 10. The exchange added that all margin trading positions must be closed before that deadline. If not, Kraken will close the positions automatically.
The exchange also highlighted that it will fully delist Monero from its platform on June 10. This means withdrawals for the XMR token for Ireland and Belgium users will be halted on that date.
