- Affected customers no longer need to answer the withdrawn questionnaires.
- Source-of-funds checks remain part of the exchange’s compliance policies.
- XMR stays listed in supported markets, with existing regional restrictions.
Kraken has withdrawn questionnaires sent to customers who purchased and withdrew Monero, following criticism from co-CEO Arjun Sethi. In an October 23 statement, he said affected clients no longer needed to submit information. The exchange will stop asking about intended uses of withdrawn coins, while retaining source-of-funds checks and keeping XMR listed where regional rules permit.
Kraken reverses requests after Monero customer reviews
Sethi said the emails asked clients about their employer, the origin of their money and their plans for the tokens. These customers had bought XMR using their own funds before withdrawing it.
He attributed the inquiries to someone treating a young customer with substantial funds as suspicious. Sethi rejected that reasoning and said no rule required the requests in question.
Kraken has told the affected clients that nothing further is required from them. Sethi did not disclose how many customers received the emails or identify their jurisdictions.
He also reaffirmed that Monero would remain available to buy and withdraw in supported markets. The privacy-focused cryptocurrency is designed to conceal transaction details on its blockchain.
The reversal draws a distinction between checking how customers obtained money and questioning their subsequent spending choices. It does not establish that all account reviews or compliance information requests have ended.
Kraken retains funding checks and regional XMR restrictions
The exchange’s source-of-funds policy says customers may need to document where money for a particular transaction originated. Source-of-wealth reviews separately examine how someone accumulated their overall assets.
Acceptable evidence can include salary records, investment statements or inheritance documents, depending on the circumstances. The policy links these checks to anti-money-laundering obligations and says a request does not itself imply wrongdoing.
Kraken therefore continues to distinguish legitimate funding verification from the withdrawn intended-use questions. Affected recipients have been released from those specific requests, rather than from every possible future review.
Sethi’s listing commitment also does not remove geographic limits. Published regional rules prohibit XMR deposits and trading for clients in the European Economic Area and United Kingdom.
Clients in Canada and Australia face broader restrictions. They cannot deposit, hold or trade XMR on the platform.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
