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Magyar24 Oct 2026
Kraken co-CEO Arjun Sethi said customers who bought and withdrew Monero no longer need to answer emails about their employers and planned use of XMR, admitting no regulation required those questions. The exchange's rolling 30-day XMR limits remain: $3,500 in deposits and $1,500 in withdrawals for individual accounts.
Exchanges TradeReviewed News Desk
Kraken has backed away from one of its more controversial compliance practices. On 24 October, co-CEO Arjun Sethi said customers who bought and withdrew Monero (XMR) and then received emails asking about their employers, sources of funds and intended use of the coins no longer need to reply, according to CryptoSlate.
What Kraken changed
Sethi acknowledged that no regulation required the disputed requests. He also rejected the internal reasoning behind at least one case, in which a young customer holding substantial funds was flagged as suspicious. In his words, a young client with a lot of money “is not a red flag.”
He drew a line between two types of questions. Asking where a customer’s money came from is legitimate, he said, while asking what they do with it after it leaves the exchange is not. Kraken says it will remove the spending question from its compliance procedures.
What stays the same
Source of funds checks are not going away. Under its existing policy, Kraken can still request bank statements, investment records and other documents showing how customers acquired their money. A separate policy updated on 1 October lets it ask for more documentation after routine account reviews or unusual activity, such as large transfers. Customers who ignore legitimate requests can face limits on deposits or trading during a review, although Kraken says these restrictions do not affect withdrawals.
The bigger constraint for Monero holders is also unchanged. Kraken’s published funding policy sets rolling 30-day XMR limits, introduced on 15 August 2026, of $3,500 in deposits and $1,500 in withdrawals for individual accounts. Corporate accounts can deposit up to $30,000 and withdraw up to $10,000 in the same period. Sethi did not address these limits in his statement.
European users are already outside the picture. Kraken stopped XMR trading and deposits for EEA clients on 31 October 2024, citing regulatory changes, and converted any balances left after 31 December 2024 into Bitcoin. The new statement does not reverse that. Sethi instead repeated that XMR stays listed where it is available: “Buy it here, take it home. That is the product.”
Why privacy coins get extra scrutiny
Monero hides transaction amounts and addresses, which makes its blockchain far harder to monitor than transparent networks such as Bitcoin. That is why exchanges tend to apply tighter, risk-based controls to XMR than to most other assets, and why delistings in regulated markets like the EEA have been common.
What it means for traders
- Less friction, same caps: fewer intrusive emails is a win for users, but $1,500 of XMR withdrawals per 30 days is still a tight ceiling for anyone moving coins to self-custody.
- Know the rules before you buy: privacy coin access, limits and KYC checks vary a lot by exchange and by country. Check the funding policy for your region first.
- Self-custody matters: with withdrawal caps in place, plan how and when you move coins off an exchange rather than leaving it to the last minute.
Comparing platforms on fees, limits and verification? See our exchange comparison, read how we test exchanges, or check our reviews of Kraken, BingX and OKX.
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