A growing list of cryptographic platforms is terminating support for XRP as Ripple prepares for a legal battle with the U.S. Securities and Exchange Commission (SEC).
The analyst Leonidas Hadjiloizou compiled a list of 26 companies that changed their policies around XRP in response to claims that the asset may be an unregistered security.
Each cryptographic platform adopts its own parameters regarding the sale or exchange of the digital asset. Some companies withdrew support for the asset only on their platforms in the United States, while others cut the XRP trade globally. In addition, some crypto exchanges removed the asset from the list, while others interrupted, suspended, or disabled XRP trading.
Crypto exchanges Bitstamp, Abra and eToro, along with the crypto market maker B2C2, have suspended XRP trading in the US only. Meanwhile, crypto exchange Stex has also turned off XRP trading in the US only.
The Coinbase, Beaxy, OSL, OKCoin, Ziglu and iTrustCapital exchanges are suspending trading of Ripple’s native assets as well, but are choosing to do so in all countries in which they operate. Market makers Jump Trading and Galaxy Digital are taking the same approach.
As for these XRP exclusion encryption exchanges entirely in the US, they include BinanceUS, CrossTower, Crypto.com and Bittrex. The Crypto wallet Swipe is also taking XRP out of the United States.
The Eobot trading platform is the only exchange that has withdrawn XRP on a global scale.
Asset manager 21shares is also going public globally, as is Sarson Funds. Sarson Funds also liquidated its positions in XRP with crypto asset manager Bitwise.
Crypto payments company Simplex is blocking XRP transactions globally, while payments company Wirex is excluding XRP payments in the US only.
Brokers Genesis Trading and Bitcoin Suisse have completely removed support for XRP.
Some cryptographic platforms are already involved in legal battles due to their previous support for the digital asset in question.
Coinbase is facing a lawsuit over the sale of XRP. The applicant claims that Coinbase sold XRP despite knowing that it was an unregistered security.
Don’t miss a beat – Sign up to receive encryption alerts via email right in your inbox
Follow us on Twitter, Facebook and Telegram
Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors must do due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. We inform you that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. Daily Hodl does not recommend buying or selling any cryptocurrencies or digital assets, nor does The Daily Hodl is an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured image: Shutterstock / lassedesignen