OKCoin, Crypto.com, Coinbase Announces Suspension Of XRP Trading And Deposit

XRP, the remittance coin of the San Francisco-based remittance payment firm Ripple continues to face the heat of the lawsuit filed recently by the United States Securities and Exchange Commission (SEC) against the company. Following the Luxemburg-based cryptocurrency exchange Bitstamp, three more major cryptocurrency exchanges have announced to halt trading support for the fourth-ranked digital currency.

The major United States cryptocurrency exchange OKCoin has released the suspension date for the trading of XRP. As per an official announcement, the crypto exchange has said that it has decided to suspend deposits and trading of XRP. Users of the exchange will not be permitted to trade XRP on its trading platform starting from the 4th of January 2021. While making the announcement, the company said that their decision to suspend XRP support is merely based on the lawsuit battle between Ripple and the SEC.

After OKCoin, the prominent cryptocurrency exchange Coinbase also announced the suspension of the trading and deposit of XRP in a blog post issued on the 28th of December. While announcing the news, the Chief Legal Officer of the company Paul Grewal said that so far now, they have transitioned the trading of XRP into “limit only” and it will be halted completely on the 19th of January. After the suspension of the trading of XRP, users will still be able to get access to the deposit and withdrawal functionality. He said that the trading of the remittance coin will still be supported on Coinbase Wallet and Coinbase Custody.

Following the footsteps of these major cryptocurrency exchanges, the famous cryptocurrency exchange Crypto.com has also announced to delist XRP from its trading platform and has unveiled the delisting date as well. In an official announcement, the company said that it will not let users trade XRP from the 19th of January 2021 onward as it will no more support XRP trading from this given deadline.

With this, the list of cryptocurrency exchanges and crypto firms that have announced to suspend support for XRP has crossed the figure of 10. Other exchanges include Bitstamp, CrossTower, Beaxy, and OSL. In addition to these crypto exchanges, crypto firms including Jump Trading and Galaxy Digital have already stopped making markets for XRP. Bitwise Asset Management and B2C2 are also included in this list.