Following Bitstamp, two more major US crypto exchanges announced the suspension of XRP trading due to the SEC lawsuit against Ripple.
Coinbase and OKCoin will stop trading XRP from January 2021
According to Coinbase’s announcement, the exchange will remove XRP from its trading platforms as of January 19, but customers will still be able to deposit and withdraw funds from their wallets. Holders of a digital asset will also be able to participate in token giveaways. The exchange will maintain support token in other services related to its storage.
OKCoin announced that on January 4, it will suspend trading in the asset, as well as freeze withdrawal and replenishment operations.
Platforms are taking such steps because listing unregistered securities can have serious consequences. In this case, exchanges first of all take preventive measures for their own protection..
Since the filing of the SEC lawsuit against Ripple, XRP rate fell more than 45%.
text: Ivan Malichenko, photo: iStock