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Home Business US exchanges are suspending or delisting XRP left and right

US exchanges are suspending or delisting XRP left and right


#Binance.US, the #American branch of the global crypto exchange, and crypto-friendly asset trading service eToro are the latest platforms to suspend XRP trading in the #United #States.

#Announcing the news on #Thursday, eToro revealed that U.S. customers will not be able to trade XRP starting #Jan. 3, 2021. #Customers with existing trades at the time will have three weeks from that date to close all open positions, the platform added in its statement.

#For #Binance.US, the effective date of its XRP delisting is #Jan. 13, 2021. #However, the delisting will not affect the claim process for #Flare’s #Spark (FLR) token airdrop distribution event.

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#Binance.US and eToro now join the likes of #Coinbase and #Bittrex as major exchanges to halt XRP trading for #American traders. #Coinbase is also the subject of a lawsuit from a disgruntled trader accusing the platform of knowingly selling XRP as an unlicensed security to its users.

These actions have come in the wake of the enforcement action by the #Securities and #Exchange #Commission against #Ripple. The SEC is suing #Ripple for violating securities laws in its sale of XRP tokens.

#Aside from exchanges delisting or suspending XRP trading, U.S.-based investment firms with XRP positions have also liquidated their holdings. #Digital-asset manager #Grayscale recently dumped about $5.77 million worth of XRP tokens following the SEC lawsuit. #Earlier in #December, #Bitwise #Asset #Management sold off all its XRP, removing the token from its #Bitwise 10 #Crypto #Index #Fund.

#Meanwhile, #Ripple said it plans to fight back against the SEC’s accusations, urging investors not to accept the commission’s stance on the matter. A virtual pretrial has already been set for #Feb. 2021.