The cryptocurrency exchange OKCoin has announced that due to the recent SEC lawsuit, it will suspend trading and XRP deposits.
On January 4th 2021 at 7:00 PM PST, we will suspend $ XRP trading and deposits.
Read more: https://t.co/kwKN97xZJO
– OKCoin (@OKCoin) December 28, 2020
IN published In a blog post yesterday, OKCoin stated that the “best solution” in response to the SEC’s recent lawsuit would be to suspend XRP trading and deposits. The platform will suspend Ripple-related services in the next few days. Users who borrow XRP / USD via OKCoin “are required to return the value they have borrowed” before January 3rd. On the next day, the exchange will suspend spot, margin and XRP transactions.
It is likely that this situation will take time to come to a solution. We will actively inform our clients when we have information that could change our position.
– we read in the blog post.
OKCoin’s position appeared in connection with the SEC lawsuit against Ripple, the company’s CEO Brad Garlinghouse and co-founder Chris Larsen. The commission has been accusing the company and its management of selling unregistered securities since 2013. Garlinghouse said the SEC’s actions are targeting the entire cryptocurrency industry, not “promoting innovation in the United States.”
Since the SEC lawsuit was released, the price of XRP has dropped more than 36%. Some exchanges have announced that they will stop trading this token. Among them were, among others OSL, Beaxy and CrossTower. XRP also plans to suspend Bitstamp trading, but only for US users. The suspension of XRP on OKCoin – ranked 29th in CoinMarketCap – may be a precursor for other large platforms.
The SEC has charged @Ripple with conducting an unregistered security sale.
– Beaxy Exchange (@BeaxyExchange) December 22, 2020
Current course You can always check Ripple and other cryptocurrencies in the tabs: course Bitcoin and the cryptocurrency rate on the website . A place where you can buy XRP and more coins, include cryptocurrency exchange BitBay.net. If you do not have an account on BitBay yet, from this article you will learn how to efficiently create one: LINK.