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As of May 10, 2024 trading and deposits will be halted for XM^R.
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All margin positions will need to be closed by May 10, 2024 or these positions will be auto-closed.
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We will halt withdrawals of XMR on Kraken on June 10, 2024. At this time, any remaining XMR balances will be auto-converted into BTC.
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So it begins. Cash is the enemy of centralized power.
Onramp gets harder and harder
I know there’s a resistance to centralized exchanges but I can’t see this as anything but bad for people’s access to Monero.
Kraken has always been reputable and delisting from here means millions of people are losing an easy to use on-ramp for Monero.
It reminds me of sanctions in Russia. Sanctions don’t totally restrict access to western goods like Levi’s. They force customers to buy through a middle man who takes a cut. This increases the cost and effort to buy which results in less people buying and using whatever good.
It’s technically still easy to get XMR, since you can just convert whatever coin into XMR and there are other exchange options. Only problem that I see with the big exchanges delisting coins is making it less likely for tech-illiterate normies to use the coins.
Why Ireland and Belgium? Any chances that this will be extended to the whole EU?
It’s likely. EU also recently voted on a 3k euro limit for cash limit for non-kyced transactions. Good thing we have Haveno coming up which is a p2p marketplace and so far the EU has left p2p mostly alone (not like a ban would be enforceable anyways).
Incidentally, how is LocalMonero doing in Europe?
That sucks. Legal obligation I suppose?
neither of those sites work
Happy to see XMR being delisted from sketchy CEXes before they implode! :)
