在德国购买门罗币：六大主要交易所不再列出XMR

德国市场：Monero（门罗币）主流交易所下架现状与法律解析

在德国，希望购买 Monero（XMR）的用户将不再能在大型交易场所找到该币种。2026年10月5日，我们对八家交易所公开的交易对列表进行了核查。在 Bitpanda、Bitvavo、Coinbase、Bitstamp、Gate.io 和 OKX 上，完全找不到任何 XMR 交易对。Kraken 列出了五个 XMR 交易对，其中包括 XMR/EUR，但这些交易对自2024年底起已对欧洲经济区（EEA）的客户屏蔽。KuCoin 仍有四个交易对，但既没有欧元市场，也缺乏针对德国市场的授权。

尽管交易受限，但 Monero 本身并未受到影响。XMR 的价格约为 499 欧元，市值达到约 94 亿欧元，周一涨幅为 2.8%。在德国，持有和托管该资产是被允许的。消失的只是通过授权交易所进行的便捷交易渠道，而这背后有两个具体的法律依据，分别对应两个不同的时间节点。

2026年10月5日数据：八家交易所的 XMR 持仓情况

统计数据来源各交易所发布的官方市场列表，并检索代码“XMR”。列表显示了交易所原则上支持的资产，而该市场是否对德国客户开放则是另一个层面的问题。

交易场所 总交易对数量 XMR 交易对数量 德国客户可用性 Kraken 1,458 5 Blocked in the European Economic Area (EEA) KuCoin 999 4 No EU authorization Gate.io 2,203 0 Not provided OKX 1,143 0 Not provided Coinbase 839 0 Not provided Bitpanda 880 assets 0 Not provided Bitvavo 438 0 Not provided Bitstamp 251 0 Not provided

There are two caveats when reading the above table: First, the Monero-like code that appears in the OKX list is a completely different item and is therefore not counted here. Secondly, due to geographical location, we cannot access Binance from the Internet; however, the exchange has stopped XMR trading globally in February 2024.

Kraken Case: Analysis of the Actual Delisting Process

Kraken detailed the delisting process for the European Economic Area (EEA) on his help page. At 15:00 UTC on October 31, 2024, XMR market transactions and deposits for all customers registered with the EEA will be suspended. Affected users can withdraw their positions before December 31, 2024. For users who miss the deadline, the exchange will convert their XMR to Bitcoin at the current market price and account it in early January 2025. Kraken gave the reason for regulatory changes, but did not cite specific terms.

The most important practical lesson for investors is that delisting not only strips you of the ability to buy, it also sets a deadline for existing positions. If users still leave coins on the exchange after the deadline, they will face forced conversions and the price will be determined by the exchange rather than the user. This mechanism is not an isolated case. We have previously described similar situations using Monero as an example.

Core legal background: Licensing lies in the platform, not the currency in the wallet

MiCA Article 76 (3): Exclusion of assets with built-in anonymity

The Regulation of the Cryptographic Asset Markets (MiCA) regulates the operation of trading platforms within the EU since the end of 2024. Its Article 76 (3) stipulates: "The operating rules of a crypto asset platform shall prevent the listing and trading of crypto assets with built-in anonymity unless the crypto asset service provider operating the platform can identify the holders of these crypto assets and their trading history."

Monero 正是这一例外情况的典型代表。其协议通过内置方法隐藏每笔转账的发件人、收件人和金额：使用环签名隐藏发件人，使用一次性接收地址隐藏收件人，并使用特定程序隐藏金额。因此，即使交易所愿意，也无法追踪 XMR 持有的交易历史。排除适用，交易对必须退出市场。

重要背景提示：该条款针对的是平台，而非个人。被排除的仅是授权提供商处的上市交易资格。在你自己的钱包中持有和托管不受此影响。关于牌照带来的其他义务，请参阅我们的 MiCA 合规概览。

反洗钱法规（AML）：2027年7月10日起更严厉的禁令

第二个法律依据此前关注较少，但约束力更强。欧盟反洗钱法规（Regulation (EU) 2024/1624）第79条第1款规定，信贷机构、金融机构和加密资产服务提供商不得保留匿名加密资产账户或任何其他允许持有人或交易匿名化或严重模糊化的账户，“包括通过增强匿名性的硬币”。根据该法规第90条，此规定将于2027年7月10日生效。

与 MiCA 规则的区别很大。MiCA 排除的是上市交易；而反洗钱法规禁止提供商保留此类资产的账户。因此，从2027年7月起，即使在授权的欧洲服务提供商处仅持有 XMR 也将被禁止，而不仅仅是交易。

对平台持仓的影响及剩余可行路径

平台持仓者应以2027年7月为最后期限

任何仍在欧盟授权提供商处持有 XMR 的人，应将2027年7月视为最后期限。Kraken 的案例经验表明，典型流程通常是：首先停止交易和存款，然后开放为期数周的提现窗口，最后强制转换为其他币种。窗口期长度由提供商决定。

剩余的三条技术路径及其风险

目前仍有三种技术上可行的路径，但它们都具有授权交易场所所不具备的缺点：

1. 非欧盟授权交易所：如 KuCoin 等平台仍在境外支持 XMR。然而，无牌照提供商不得主动接触德国客户。这意味着：无存款保护、无监管机构可求助、争议解决地遥远。此外，通常无法直接存入欧元，需先在别处购买比特币或稳定币。
2. 原子交换（Atomic Swaps）：双方直接在区块链层面交换比特币和门罗币，无需第三方托管。虽然可行，但比交易所购买更容易出错：需要合适的软件、正确操作两个钱包，且由于流动性稀薄，汇率往往偏离市场价。交换中止可能导致资金暂时锁定。
3. 去中心化交易所（DEX）：Users trade among themselves, and the software only serves as an intermediary. There is no central authority for keeping books, so no one is responsible for mistakes. Pricing depends on individual counterparties, and fraud protection is limited to collateral held by the software.

Absolutely undesirable situations: Providers that promise to purchase without authentication and require a prepayment. Over the years, fraudulent websites have used the gaps left by delisting to commit fraud. BaFin regularly issues consumer warnings. Before each transfer, please check whether the provider is in the public register.

Tax considerations and the importance of self-custody

Tax treatment: Converting to XMR is regarded as selling Bitcoin

Anyone who obtains Monero through an atomic exchange or a foreign exchange usually triggers a taxable event first. Converting Bitcoin to Monero is regarded as a disposal of Bitcoin. If there is less than twelve months between acquisition and redemption, the proceeds will be taxed under private disposal rules; if the total proceeds from such transactions during the calendar year are less than € 1,000, they will be exempt.

The received XMR begins to calculate its own holding period, which lasts for one year. Documentation here is more difficult than usual because no tax bureau approval statement will be generated outside the authorization platform. Please record the date, amount and euro equivalent of each exchange yourself and keep the counterparty's receipt. Specific tax tools and combination trackers can be used, which can also read wallet addresses.

Custody: Why own wallet is more important to Monero than Bitcoin

For most coins, self-trusteeship is prudent. But for Monero, a second reason has been added, which stems from the above two regulations: every authorized custodian in the EU must abandon XMR sooner or later. The amount of holdings in your own wallet is not affected because there is no service provider keeping accounts there.

Technically, Monero has more "personality" than Bitcoin. The official wallet must synchronize the blockchain with its own node or with someone else's node; in the latter case, the node operator will see when you synchronize. There is also a so-called view key, which allows incoming payments to be checked without moving funds. Anyone passing this key to someone else (such as a tax accountant) will be granted permission to view incoming payments without losing control. Please see Hardware Wallet Comparison for which device categories are suitable for hosting and their differences.

Conclusions and recommendations

Independent operation on the network side

A decrease in European transaction volume does not mean that the project is stagnant. On October 5, 2026, a fork was launched on the test online line to test new cryptographic programs. This doesn't change where to buy XMR, but is crucial for evaluating projects.

What happens if nothing is done?

For holding positions on European platforms, waiting is the most expensive option. You leave the conversion time and settlement price to the provider. Forced conversion to Bitcoin also triggers the same tax consequences as a voluntary exchange, which is the disposal of your XMR and has all impact on the holding period, which you can only learn after the fact.

In contrast, these two regulations do not put pressure on action for positions held in one's own wallets. Only things that apply routinely: backup recovery mnemons, tested recovery paths, and purchase data records required for tax purposes.

Buying Monero: The next three steps

1. Check your XMR storage location today: All assets stored at EU authorized providers have an expiration date, effective at the latest July 2027. Please refer to Exchange Comparison for which providers have licenses.
2. Set up hosting before purchase: If there is no wallet available and a tested recovery path, each purchase route is wrong. For the differences between different device categories, please refer to Hardware Wallet Comparison.
3. Record each exchange that day: Date, amount, euro equivalent and counterparty. Outside of the authorization platform, such statements are not automatically generated; tax tools and combination trackers can help.

(As of October 5, 2026. This article does not constitute investment advice. Price and fee structures are subject to change; please check terms with your provider before purchasing.)