Kraken plans to delist Monero in Europe due to regulatory requirements, causing XMR to drop 5%

BlockBeats News: On October 2nd, according to Cryptoslate, due to Kraken's announcement that it will stop supporting Mon ero (XM-R) in the European Economic Area (EEA) at the end of October, the price of Monero has fallen more than 5% in the past 24 hours to $144. Kraken stated that this move is due to regional regulatory changes and will cease all trading and deposits in the XMR market on October 31st. Users are required to withdraw their assets before December 31, 2024. Unsettled Monero will be automatically converted to Bitcoin and distributed to users on January 6, 2025.