The last US #Monero CEX has fallen.
Kraken says that Monero withdrawals are no longer allowed in your country.
https://www.reddit.com/r/Monero/comments/1nd0f9u/kraken_withdrawals_suspended_in_usa/
Discussion
https://nonkyc.io/ fixes this
This could turn out to be a good thing. I just think they've realized that they'll get squeezed if they don't get out now.
They can't honor their commitment, they can't pay out what they never had. All their delays in payment were a clear sign of that.
Monero has been held artificially low for years due to the CEX this will change with DEX only.
Oh yeah, in the long term, this is going to be an extremely good thing. In the short term though, I expect some price pain as people are forced to sell their Monero on Kraken to buy other things in order to get their money out of it. That will give Kraken the ability to buy some Monero cheaper in order to fulfill actual withdraw orders for a while longer before they officially delist it.
Oh, the joys of fractional reserve.
It is the first large coin that is forced into p2p transactions after being in exchanges.
We might really be witnessing a specific moment in history when Monero achieves what has been expected from crypto currencies since the beginning.
I was hoping to have more production ready cross chain atomic swap technology by now... don't forget, monero still depends heavily on all those services that hook into trocador. they are technically all centralized exchanges.
I think Kraken removing Monero withdrawals in the US is probably going to send the volume up a lot on #RetoSwap.
Could be related to this issue https://github.com/monero-project/monero/issues/10067
If they can't point out the transaction afterwards it could be hard to prove the withdrawal happened, in case of complaints.
The friendly to the system stuff remains.
The only real threat is removed.
Of course. It could not be any other way.