Another site announced the restriction of trading in pairs with XRP – users of the major cryptocurrency exchange Coinbase will lose access to cryptoasset trading on January 19.
The restrictions began to be introduced on December 28, and on January 19, 2021, trading in pairs with XRP will be completely stopped. At the same time, site users will still be able to access their XRP holdings.
“Customers will still be able to participate in the Spark token distribution. In addition, we will continue to support XRP on Coinbase Custody and Coinbase Wallet, ”the exchange said in a statement.
Crypto exchanges began to restrict trading in pairs with XRP after the US Securities and Exchange Commission (SEC) filed a lawsuit against Ripple. The regulator accuses the company’s management of selling XRP, which are unregistered securities.
XRP trades represent approximately 8.3% of the total trading volume on the Coinbase exchange. For comparison, on the Bitstamp site this figure reaches 18.5%, but this did not stop the exchange from banning XRP trading for US users.
Interestingly, Coinbase is a member of the Cryptocurrency Rating Council, which evaluates various cryptocurrencies for their performance against securities. In August 2019, the Board issued XRP a rating of 4, that is, recognized XRP as an asset that fits the definition of a security.
Earlier, the suspension of XRP trading was announced by large market makers Jump Trading, Galaxy Digital, B2C2, as well as the payment company Simplex. In addition, the regulated platform OSL from Hong Kong announced the temporary suspension of trading in pairs with XRP and all operations with a crypto asset.
