Monero’s price fell by 8% a day after Kraken announced it would stop supporting the privacy-focused cryptocurrency.
Crypto exchange Kraken will end its support for privacy token Monero in the European Economic Area (EEA).
Kraken announced that it would stop trading and deposits for all Monero (XMR) markets in the EEA from Oct. 31, 2024. This includes the trading pairs with United States dollars, euro, Bitcoin (BTC) and Tether’s USDt (USDT).
Kraken cited regulatory and compliance obligations as the reason for discontinuing support for XMR. The exchange said in a statement:
