Kraken to close withdrawals for seven assets in UAE

Kraken will close withdrawals for seven crypto assets held in accounts registered to residents of the United Arab Emirates at 14:00 UTC on Monday, Sept. 14. Any balances left on the platform after that time are scheduled for liquidation between Sept. 15 and Sept. 25. The exchange has not guaranteed the currency in which liquidation proceeds will be paid.

The assets affected are Monero (XMR), Zcash (ZEC), Dash (DASH), USDD, Dai (DAI), USDS and Ethena USD (USDE).

Kraken’s status notice says withdrawals will be available up to 13:59 UTC on Sept. 14 and will be disabled at 14:00 UTC. Accounts that still hold the listed tokens after the cutoff will have those positions subject to sales during the Sept. 15–25 liquidation window. The notice does not specify when each customer’s holdings will be sold within that period.

The notice states, “prevailing market conditions will determine the denomination of liquidation proceeds, which it cannot guarantee or confirm before execution.” Customers left with balances will not have a confirmed payout in U.S. dollars, UAE dirhams, bitcoin or any specific stablecoin prior to sale.

The announcement follows a status notice published June 1. Under the earlier timetable, open margin positions closed on June 15 at 14:00 UTC and deposits, trading and margin services stopped on June 16 at 14:00 UTC. Kraken described the sequence as part of regular asset reviews; the September dates are the next steps in that schedule.

Kraken’s support page lists the June 1 notice as the last update. The notice does not state whether customers will receive separate messages about the timing of individual liquidations or whether fees, conversion costs or other adjustments will be applied at the time of sale. The restrictions apply only to Kraken accounts registered to clients residing in the UAE and do not represent a legal ban on the tokens in the country.

Customers who want to avoid liquidation must transfer holdings off Kraken before 14:00 UTC on Sept. 14.