Kraken is halting withdrawals for seven cryptocurrency assets held by its UAE-resident clients effective September 14 at 14:00 UTC, according to exchange notices reviewed by CryptoSlate. The affected assets are Monero (XMR), Zcash (ZEC), Dash (DASH), USDD, Dai (DAI), USDS, and Ethena USD (USDE).
Clients in the UAE will have until 13:59 UTC on September 14 to withdraw their holdings. After that cutoff, the exchange will disable all withdrawals for these seven assets. Kraken will then liquidate remaining balances between September 15 and 25, 2026.
Liquidation Process and Currency Uncertainty
Kraken stated that prevailing market conditions will determine the denomination of liquidation proceeds. The exchange cannot guarantee or confirm the currency of proceeds before execution. This means affected clients will not know in advance whether their liquidated holdings will be settled in dollars, dirhams, bitcoin, or a particular stablecoin.
Kraken’s notices do not specify when each customer’s holdings will be liquidated within the September 15–25 window, nor do they offer any commitment to settle liquidation in a particular currency or asset.
Timeline and Prior Notices
Kraken published an initial status notice on June 1, 2026, announcing the delisting cycle. Open margin positions for these assets were scheduled to close on June 15 at 14:00 UTC. Deposits and trading stopped on June 16 at 14:00 UTC, and margin services were disabled at that time.
The restriction applies only to Kraken clients residing in the UAE. The exchange did not announce a nationwide prohibition on these seven assets.
Stated Rationale
Kraken attributes the delisting cycle to its regular asset reviews. The exchange did not specify why these seven particular assets were selected beyond citing its standard review process.
