For information on changes for our US clients, please visit our Support Center article.

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UK Monero (XMR) Conversion FAQ
This article aims to answer any questions you may have, as a UK client, about the conversion of Monero (XMR) into Bitcoin (BTC).
Why is Kraken converting my XMR balance?
Kraken’s UK legal entity does not support exchange or custody of XMR and as such has to liquidate the current holdings to comply with the regulatory requirements.
What will my XMR balance be converted into?
We are converting XMR balances to BTC to ensure that our clients' funds remain accessible and to comply with the ongoing regulatory framework. BTC is a widely accepted cryptocurrency.
When will the auto-conversion of XMR take place?
The auto-conversion of all remaining XMR balances to BTC will take place on 30 July, 2024. Clients will be notified every step of the way around the conversion.
How will I know the conversion has been completed on my account?
Once the auto-conversion has been completed, your new balance will be reflected in your account.
  • If you’re using the Kraken interface, go to Transactions > History.
  • If you’re using the Kraken Pro, go to the History tab.
How will the conversion rate be determined?
The conversion rate from XMR to BTC will be determined based on the market rates at the time of conversion on 30 July, 2024.
Will there be any fees associated with the conversion?
There will be no fees for the auto-conversion of XMR to BTC. The conversion will be conducted at the prevailing market rate on 30 July, 2024 without any extra charges to clients.
What happens if I want to convert my XMR to another cryptocurrency instead of BTC?
Unfortunately, we are only able to convert XMR to BTC. If you wish to convert your BTC to another cryptocurrency or cash, you will be able to do so after the conversion process is completed.
Can I withdraw my XMR before the conversion date?
No, withdrawals of XMR have been halted for UK clients and your residual XMR balance will be automatically converted to BTC as per the announced schedule.
What should I do if I have further questions?
If you have any further questions, please feel free to reach out to our Support team.