Kraken Liquidates UAE Client Holdings Amid Market Volatility

Kraken has closed withdrawals for seven crypto assets held by its UAE-resident clients. The withdrawal deadline was September 14 at 14:00 UTC, and any remaining balances are now subject to liquidation on Kraken's platform.

The affected assets include Monero (XMR), Zcash (ZEC), Dash (DASH), USDD, Dai (DAI), USDS, and Ethena USD (USDE). The exchange has not guaranteed the currency of liquidation proceeds before execution, citing prevailing market conditions as the determining factor.

The UAE delisting notice does not specify when each customer's holdings will be liquidated within the September 15-25 window. Kraken attributes the move to its regular asset reviews and emphasizes that this restriction applies only to clients residing in the UAE.