Kraken drops Monero spending questions but keeps a $1,500 rolling 30-day withdrawal cap for individuals

Crypto exchange Kraken has withdrawn intrusive compliance demands sent to Monero customers after its co-CEO admitted the requests were unjustified. On Oct. 24, Arjun Sethi said that customers who purchased and withdrew Monero (XMR) had received emails requesting information about their employers, sources of funds, and intended use of the cryptocurrency. He acknowledged that no regulation required the disputed requests and confirmed that affected customers no longer needed to respond. The reversal followed criticism of the exchange's treatment of Monero users, particularly its decision to classify a young customer holding substantial funds as suspicious. Sethi rejected that assessment, arguing that a customer's age and financial position should not automatically trigger heightened scrutiny. “Someone saw a young client with a lot of money and called it a red flag.

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