Kraken announced that it will no longer require Monero (XMR) customers to answer detailed questionnaires about their employers, sources of funds, or intended use of the cryptocurrency. The change follows comments from co‑CEO Arjun Sethi on Oct. 24, in which he said the requests were not required by regulation and that affected customers no longer need to respond.
Sethi distinguished between legitimate verification of where funds originated and inquiries about how customers plan to use the assets after withdrawal. He stated that the former is a valid anti‑money‑laundering question, while the latter is not, and that the latter will be removed from Kraken’s compliance procedures.
Existing compliance framework
Kraken’s policy allows the exchange to request documentation such as bank statements or investment records to confirm the source of a customer’s wealth. These requests support the exchange’s anti‑money‑laundering obligations and may be triggered by routine account reviews or significant changes in transaction activity. Customers who do not comply with legitimate requests may face restrictions on deposits or trading, though withdrawals are not affected.
Monero‑specific limits remain
Despite dropping the questionnaires, Kraken continues to enforce cryptocurrency‑specific transaction limits for Monero. Under the funding policy introduced on Aug. 15, 2026, individual accounts are limited to $3,500 in deposits and $1,500 in withdrawals over a rolling 30‑day period. Corporate accounts have higher thresholds of $30,000 for deposits and $10,000 for withdrawals.
These limits are tighter than Kraken’s general funding allowances and were implemented as part of the exchange’s risk‑based compliance controls to keep Monero trading and transfers available while meeting regulatory requirements.
Regional restrictions unchanged
Kraken’s earlier decision on Oct. 31, 2024, to discontinue XMR trading and deposits for customers in the European Economic Area remains in effect. Those users must withdraw their holdings by Dec. 31, 2024, after which any remaining balances will be converted to Bitcoin.
Sethi reaffirmed Kraken’s commitment to keeping Monero listed where it is still supported, stating that users can buy the asset on the platform and transfer it to private wallets.
