Kraken has announced that it will stop trading and depositing XMR from May 10th. All margin trading positions must be closed before the deadline. If not, Kraken will automatically liquidate them. The exchange also emphasized that it will completely delist XMR from its platform on June 10th. After the deadline, the remaining XMR tokens in users' accounts will be automatically converted to Bitcoin (BTC).

Previously, the EU recently banned crypto asset service providers (CASP) from providing accounts or using privacy-focused tokens such as Monero for anonymous users.