Switch to seedless. Get 30% off with SWITCH30 till Oct 26Kraken drops Monero withdrawal questions, XMR remains listed
4.5 Regulation Kraken withdrew Monero withdrawal questions after admitting they were sent in error. The exchange apologized, confirmed XMR remains listed, and emphasized user privacy.
Kraken has retracted controversial questions previously sent to customers withdrawing Monero (XMR). The emails had asked clients about their employer, source of funds, and intended use of the withdrawn coins. Co-CEO Arjun Sethi clarified that no regulation required such inquiries and described the emails as a mistake, triggered when a young client with significant funds was incorrectly flagged as suspicious. Sethi emphasized that while asking about the source of funds is reasonable due to anti-money laundering laws, inquiring about the use of withdrawn coins is not acceptable. Kraken apologized to affected customers and confirmed that Monero remains listed on the platform. The exchange assured users that no further action is required regarding the withdrawal requests. This move has been welcomed by privacy-focused users and is seen as an effort to restore trust and align with user expectations for autonomy in managing their funds.
