Blockchain.com joins the list of exchanges that delisted XRP trading becoming the latest in line to also delist XRP in the wake of SEC’s lawsuit against Ripple so let’s find out more in today’s XRP news.
Blockchain.com will halt XRP trading as a direct response to the SEC lawsuit against Ripple which alleged that the token was sold as an unregistered security. Exchanges like eToro and Coinbase already stopped XRP Trading and now Blockchain.com joins the list of exchanges too. Blockchain.com will disallow XRP trading on the platform according to the statement from the official site starting from January 14th. The statement clarified that the exchange’s traders will retain access to the XRP coin that they already own in a limited capacity but they will be able to send it out however they won’t be able to receive any new XRP.
The note made it clear that the move is a direct response to the SEC lawsuit against Ripple which is the company behind XRP alleging that the token is essentially unregistered security and that the sales made before are illegal and it sued the company in a $1.3 billion lawsuit for it. The complaint alleged that Ripple’s current chief executive and former chief executive made a scheme from selling XRP and continued to use the token after.
Blockchain.com is the latest exchange to announce that it will delist XRP in the wake of the SEC filing. Bittrex, eToro, Binacne.US, and Coinbase already decide to delist it, saying that XRP is a risky affair now. A few exchanges however are not giving up on the asst. Revolut and Uphold have a larger presence in the UK and decided not to give up on Ripple as they will wait for a sentence. Uphold especially was vocal about supporting XRP. the price of XRP dropped once the news of the charges emerged. The third-biggest cryptocurrency at that time dropped to the fifth spot.
As recently reported, The Revolut app warns it users regarding buying and selling XRP. According to the news outlet The Irish Times, the company sent out a notice to its uses saying that it Is still possible for the company to delist or to restrict trading on XRP with little or no notice. Revolut warned that the users’ funds with XRP holdings could be stuck without the means to sell tokens even if the price falls to Zero
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