Topic: Kraken delisting Monero in EU adds just 1 hop to the end user (Read 247 times)

Govs ban what they can't use themselves to the fullest extent (the things they don't control, in fact).
 
That's how it was and it will be the case.

You can pay for CP or drugs even with Tether, as long as no metadata is attached to it. By your reasoning, we should ban every means of exchange, because there will always be people who use it for horrible things.
It's simply, impossible.


So, if I have a hidden gold stash, it will be worth nothing in the upcoming years? I will not be able to use it ?

Your logic is flawed.

As of today, the use of Monero is only increasing. Source: https://bitinfocharts.com/comparison/monero-transactions.html#alltime
Why ? because people don't care what you say, they need a tool for exchanging and Monero is the best tool.

So, you can take your FUD and shove it where the sun doesn’t shine - along with any of the three-letter agencies attempting the same.

People will continue to use it, just like they still use drugs and download the latest movies from torrents. Despite all the money and power the movie industry has poured into fighting piracy, it’s still thriving.
Globally, the "war on drugs" has consumed over $1 trillion since its inception about 50 years ago, and right now as I'm sitting behind my computer I can order any drug anonymously and get it delivered next day to anonymous parcel locker with just a few clicks.

You can keep spreading your nonsense, but these are the facts: Monero is unstoppable, and people want it because they need it.

Funny how the same bullshit was spread when Bitcoin was young  

/Over&Out.



https://www.youtube.com/watch?v=O6yeLNNVa4A

Op is also missing the point on WHY exchanges need to delist them. It's because they don't have way to prove of the origin of that crypto. When people obfuscate the origin with these "extra steps", they are facing the same problem that those exchanges are getting prepared to avoid.

The fact that you can still use cryptos that you bought with monero, is because law changes are still in transition phase. In upcoming years assets without a proof of trail/origin will be unusable. It doesn't matter if it's usdt or btc, when the trail of it is missing.

XMR is brilliant at what it is designed to do. The authorities hate it but sadly its strengths are what will not allow it to thrive to gain mainstream adoption. People who desperately want to remain anonymous will use it but it will never gain mainstream adoption & go to the moon, as they say. It’s a real shame but I understand why they are trying to regulate it out of existence.

They are using EU and USD and whatever else fiat, because it's THEIRS, they control it, they can print more, they can seizure, they can stop, or make it go up or down, they can increase the rates, decrease it, they do whatever they want with it. So assuming that you are a bad person, would you just directly put your money into a bank?

Ask how Al Capone was caught and you will get it. I assure you, I am not saying Monero is a shitcoin, but it's definitely not legally easy to control, hence they will never allow it directly be used. Sure you can hop once or twice or whatever and use it if you want, but direct influence and ease of use will never be allowed for the fact that it is a privacy coin that can be used easily by bad people.

While I understand you can still do whatever you want, that doesn't change the fact that we are talking about them making sure you don't do it on their platform. I understand you are just having a trouble with EU, and that's fine, but why would Kraken take a stand when EU wants them to remove XMR, should Kraken just go "no" and be banned from EU for that decision? Obviously if asked then they are going to take that off, and won't even care about it.

EU just doesn't want to give it a platform, it's something dangerous, you can be a good person and using monero, but you also need to remember that there are way too many bad people using monero as well, we have proof of too many horrible people using it, so make it as difficult as possible, today it's kraken, tomorrow it's something else, as long as they can make it a bit harder.

Yes, you are talking about atomic swaps. This can be done between compatible blockchains. Cake Wallet has this option but it is not limited to Cake Wallet, rather it is an intrinsic property of the blockchain. It could be technically considered dex as well.

I would keep my coins out of third party wallets like those of centralized exchanges though. You never know when they will find a bs reason to freeze your account and your coins. Either that or you could get the Mt. Gox/FTX/[insert name of Cex here] treatment (Exchange gets hacked/exit scams and you never see your coins again).

FIAT, Crypto, and any other tools, including guns, knives, and stones, should never be banned because criminals use them.  

If someone thinks otherwise, they should be banned and locked in a dirty jail because, you know, some humans are evil - so, just in case, we will take your freedom.

Everybody is aware of the fact that fiat currency is at least millions (if not billions) times more used for crimes than the cryptocurrencies, and it is fiat which should be banned, but government tries too hard to put ban on cryptos so as just to safeguard their own currency, interests and it's own scams.  It is same situation in almost every nation over the world

The problem is that with "open ledger based" coins it's getting increasingly difficult to transfer privately. Some exchanges even consider CoinJoins "high risk" now and refuse deposits from these sources. This means that many users without much technical understanding are basically now transacting in full sight.

So government measures against Monero and other privacy coins should be energically rejected. Criminal use of cryptos, including privacy coins, is drastically overestimated.

Just to clarify one misunderstanding: The EU did still not ban exchanges from offering Monero. This "ban" will likely however be part of the AMLR package which is to come into force in 2027. The wording suggests that while privacy coin accounts should still be possible, they must be accompanied with stricter KYC/AML measures. But due to the MiCa regulations which already are in force, Kraken has transferred their EU operations to some other fintechs with MiCa license, and these seem to "preventively" already restrict privacy coins.

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Good resources to find lesser known exchanges supporting Monero are also kycnot.me and OrangeFren.

Edit: some smaller mistakes corrected. AMLR was already approved but indeed comes fully into force in 2027.

Then why they still allow EUR, USD, and other FIAT currencies when they are still the most used ones for all the bad things ?
FIAT money is physically tainted with drugs, blood and feces. It's so dirty I have to wash my hands every time I touch any of it.

Money, no matter in what form (even CBDC) will always be used by criminals, fungible money like Monero is making sure our hands don't get dirty in the process because someone else before us used it for crime.
The world is not black and white, the "illegal" sticker can be put on anything by the government - even on supporting homeless people.


Kraken has publicly expressed many times that they love Monero, so it's not that they don't want it - they were forced by the EU regulations written by people who want CBDC to be the only currency while allowing some transparent blockchains that they can surveil.

As for LTC - it's only a proxy, once you go to Monero chain, you're free.

If they choose to suspend people who swap, that's their choice. They will lose a lot of business and people will go to DeX, Serai will soon be released with it's liquidity-pool, it will be game over for CeX.

No biggie.

I think there are some chain analytics that could be done with your LTC. If something comes in and could be related to the swap, it can be connected to you in some way, especially if it is from something illegal. I don’t think it’s a problem to swap and then deposit it in a different currency; it’s just that they don’t want XMR to be their platform. It might be regulations, but it’s still up to them.

They are not trying to prevent you to buy or sell monero, they are trying to just make sure you do not do something illegal that they allow. Monero might be fine, or might be illegal, you may do something nice with it and buy your mom a flower, or you may buy drugs and sell it to kids, we have no idea. So they ban it, to make sure they save their own interest, which is why I believe we are going to see this growing to be something much better, we can't have anything marginally better at times.

All the above, basically I worry a lot about government intervention into our privacy but at the same time, we cannot ignore that untraceable coins are kin for illegal activities. It means I feel like bitcoin as a open leger based coin is more than enough compared to monero like privacy protecting coins. All in all, we need to focus on how to get better reality with time, we just need to focus on how to get greater results and do fine with the money we make without worrying about what government says, they don't actually care.

Glad you understand it It's mainly for people who already use Kraken and don't want to change it for various reasons.
Remember: Monero if truly fungible, it doesn't matter if you get it from KYC exchange or from a dealer in dark alley, once you transfer it to your wallet, it can be used privately as if you have mined it yourself.

Monero can't be stopped on CeX because you would have to delist ALL cryptocurrencies that are interchangeable with Monero - Including Bitcoin.
What this regulators have done is made Monero stronger by eliminating price manipulations by exchanges that sold "paper" Monero.

Since Monero (XMR) is banned on some reputable exchanges, @OP made the best scenario he knows to help people here that they don't have to go to random exchanges that have high transaction fees. I think this is a useful topic even if it seems to lose context on what the coin is supposed to be used for, again, at least he has good intentions with his educational topic .

I deal with high amounts and it's good to have your FIAT money coming from a regulated place in this scenario. I don't need money laundering case in my life.
Another problem is with liquidity on DeX and smaller exchanges.

What exactly are you doing

You're using Kraken to buy and sell your coins, there's no point at all since the purpose of using Monero is for privacy. So, I don't get with what you say.

In Monero they have no way to know the trace of your coins, if you're using other coins, at least they can know if your coins are linked with x address which associated with no KYC exchange.

Or you can just use DeX but this post was meant for people who still want to use Kraken for buying / selling Monero and you can do so indirectly by adding one easy hop.

You can also click on monero on Coingecko or Coinmarketcap and then click on exchanges or market respectively on the site, you will see many exchanges that are still have monero pairs.

Also there are many other exchanges that are not listed but supporting monero P2P transaction. I mean exchange monero to fiat and fiat to monero on such exchanges.

In this example I use LTC as it has low network tx fee's but you can use whatever you like that's listed on Kraken and supported by Cake Wallet.

Buying:

• Buy LTC on Kraken
• Withdraw to Cake Wallet
• Exchange to XMR

Selling:

• Exchange XMR to LTC in Cake Wallet
• Transfer to Kraken
• Sell LTC