In our fast-moving regulatory landscape, we continuously assess the impact of regulatory changes, and their consequences for specific products and services we offer. As a result, and after careful consideration, we’ve made the decision to delist DAI for clients in the EEA.
What does this mean if I hold DAI in my Kraken account?
No action is required on your part, we will auto-convert DAI to USDC. If you do not want DAI to be auto-converted to USDC, please convert or trade your DAI to an alternative asset or stablecoin as soon as possible, in line with the timeline below.
Important dates:
April 24, 2025 at 12:00 PM UTC:
- •We will set margin pairs involving DAI to ‘reduce-only’ for EEA clients, after which it will only be possible to reduce, or to fully close out existing margin positions.
May 1, 2025 at 12:00 PM UTC:
- •Spot trading will be set to ‘sell-only’ for DAI for EEA clients.
- •EEA clients will no longer be able to generate new deposit addresses for this asset.
May 8, 2025 at 12:00 PM UTC:
- •Any outstanding margin positions involving DAI will be automatically closed.
May 15, 2025 at 12:00 PM UTC:
- •We will halt all spot trading for DAI for EEA clients open orders will be closed and you will no longer be able to exchange this asset for other crypto or fiat currencies.
- •DAI will be restricted for use by EEA clients as collateral for any leveraged positions. This can affect your account’s margin equity, please manage accordingly.
All remaining EEA client holdings for DAI as of May 22, 2025 will be converted to USDC. This includes DAI deposited to existing addresses after the above deadlines. You will only be able to withdraw DAI in this instance.
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