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UK Rejects Monero as Kraken Stops Supporting Cryptocurrency

The cryptocurrency world has been abuzz with news that the United Kingdom has taken a stance against Monero, one of the most popular privacy coins. The UK’s Financial Conduct Authority (FCA) has issued a warning to investors about the risks associated with investing in Monero, citing its lack of regulation and potential for money laundering.

The FCA’s warning has been echoed by other major players in the cryptocurrency space, including Kraken, one of the world’s largest cryptocurrency exchanges. Kraken recently announced that it will no longer support Monero, citing the FCA’s warning and its own concerns about the coin’s lack of regulation.

The news has been met with mixed reactions from the cryptocurrency community. On one hand, some investors are concerned about the lack of regulation surrounding Monero and the potential for money laundering. On the other hand, many investors are disappointed that Kraken has chosen to stop supporting Monero, as it was one of the few exchanges that allowed users to trade the coin.

The UK’s stance against Monero is a reminder that the cryptocurrency space is still in its infancy and is subject to a great deal of regulation. While the FCA’s warning is a cause for concern, it is important to remember that the cryptocurrency space is constantly evolving and that new regulations are likely to be introduced in the future.

In the meantime, investors should be aware of the risks associated with investing in Monero and should do their own research before investing in any cryptocurrency. It is also important to remember that Kraken’s decision to stop supporting Monero does not necessarily mean that other exchanges will follow suit.

21 thoughts on “UK Rejects Monero as Kraken Stops Supporting Cryptocurrency”

  1. This is completely futile. Crypto will swallow up the broken financial scam system, dethrone the bankers and bring money and markets back to sanity.

    Once everything is crypto based you will be able to just swap into any coin you wish and no one will be able to do a damn thing about it.

  2. u don’t have to change countries. just keep using Monero, lol. that’s the whole point of it. untraceable if you put good security measures in, VPN, Graphene OS and use Tradeogre.

  3. Got taken off UK kraken a long time back.

    I just bought some BTC from kraken and sent it to an exchange that forwarded on to my xmr wallet.

    Very easy to do, although presumably the exchange rates work against me. Got to be some profit for the exchange.

    But it seemed reasonable, I got pretty much what I expected.

    The biggest cut is still taken by kraken, coinbase etc. I suppose we pay for the convenience but everyone wants a piece at every transaction which makes crypto expensive to use practically right now.

  4. I don’t understand why companies voluntarily disable services in countries that they have no physical presence in.

    If the UK gov wants to censor the internet, force them to do it publicly. Don’t self-censor your service and allow them to hide behind the idea of being a free country. Force them to build a nation-wide firewall like China, and force them to reap whatever public backlash results from doing so.

  5. We need to recognize that the real problem here is is the Blockchain Surveillance (BS) companies. In the UK for example on of them hired a former high level law enforcement official. Do the math,

    Here is an example of the threats that BS poses. https://www.nasdaq.com/articles/chainalysis%3A-watching-those-who-are-watching-us

    Defeating BS in order to prevent the innocent from being falsely accused is one of, if not the most important applications of Monero’s privacy.

    Edit :


    From the above article:

    > About Janey Young

    > Janey Young is Head of Global Investigations at Chainalysis. Prior to joining the company, Janey undertook a wide variety of policing roles including as Head of Investigations at the UK National Cyber Crime Unit and developing the European response to illicit activity on the dark web at Europol

  6. Oh man, this post is wild.

    So many different opinions and views, users disagreeing with users while both love monero.
    Its wild. Thanks for the mayhem OP. 🤣

    Well from my research, USA – Texas Florida Wyoming are pro crypto.
    EU side i found only Iceland.
    Now for something warmer, UAE is pro crypto BUT not privacy coins and 0% tax if that rocks your boat.
    Asia side i have no idea. Yet.

    If anyone has any other countries or places in general to add, please do.

    It seems that all countries have been pushing this whole thing. EU especially sucks, turning into privacy, financial, WEF 2030 dystopia, while 80% of what they do fly under the radar.

    IMHO, exchanges should notify users on these actions from GOVs, asking users to login to those pages in order to use those coins etc.
    The plain apathy from CEXs with “sorry not supported anymore due to regulations” is lame AF.

    I suffer from arthritis, so I can’t bend a knee anyway.

  7. >The only downgrade of this trend of regulations is I’ll have to change the country I’m living in.

    Why thinking like that, instead of helping to develop parallel markets with Monero? I think that’s easier and cheaper than moving to another country.

    Yes, LocalMonero is another source to buy and sell goods; but this kind of things makes me want to encourage more people to start their own businesses


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