Kraken Ends Mandatory Monero Withdrawal Questionnaires but Keeps XMR Listed
Exchange policy update for privacy-focused coins
Kraken has removed the requirement for customers to answer questionnaires when withdrawing Monero (XMR), a cryptocurrency designed to offer greater transaction privacy. While the specific forms asking users to declare their intended use for the coins are gone, the exchange continues to list Monero and will not delist the asset.
This move simplifies the withdrawal process for users who value privacy features but does not eliminate all regulatory checks. Kraken maintains its broader anti-money laundering (AML) and know-your-customer (KYC) compliance measures.
What Arjun Sethi said about the changes
Arjun Sethi, co-CEO of Kraken, stated that asking clients to explain what they intend to do with withdrawn coins is unacceptable. He clarified that while the exchange will no longer probe the specific destination of the funds, it will continue to verify the source of funds for assets held on the platform.
Key numbers and facts
- Kraken is keeping Monero (XMR) listed on its trading platform.
- Mandatory withdrawal questionnaires specifically targeting Monero have been scrapped.
- Source-of-funds checks remain in place for compliance purposes.
What is confirmed
The decision to remove the specific Monero withdrawal questionnaires and the statement from co-CEO Arjun Sethi regarding the unacceptability of such inquiries are confirmed by The Defiant's reporting. It is also confirmed that Kraken is retaining Monero in its listed assets. The distinction between removing the destination inquiry and keeping source-of-funds verification is clear in the available material.
Why this matters for crypto users
This update is significant for users of privacy coins like Monero, as it removes a layer of scrutiny that required them to disclose their next steps for the asset. While exchanges are not banks and do not control where coins go once withdrawn, they have previously used these questionnaires as a compliance tool. Removing them aligns with the principle that users have the right to move their funds without extensive interrogation, provided the initial source of funds is clear.
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.