Binance.US, the American subsidiary of the global crypto exchange, and the eToro crypto-enabled asset trading service are the latest platforms to suspend XRP trading in the United States.
In announcing the news on Thursday, eToro revealed that US customers will not be able to trade XRP as of January 3, 2021. Customers with current trades will have three weeks from that date to close all open positions , added the platform in its statement.
For Binance.US, the effective date of your XRP exclusion is January 13, 2021. However, the exclusion will not affect the claim process for the Flare Spark token (FLR) air launch distribution event.
Binance.US and eToro now join companies like Coinbase and Bittrex as the main exchanges to stop XRP trading for American traders. Coinbase is also being targeted by a disgruntled merchant who accuses the platform of selling XRP as an unlicensed title to its users.
These lawsuits followed on from the Securities and Exchange Commission enforcement action against Ripple. The SEC is suing Ripple for violating securities laws in the sale of XRP tokens.
In addition to closing the exchange or suspending XRP trading, US-based investment firms with XRP positions also liquidated their holdings. Digital asset manager Grayscale recently disposed of about $ 5.77 million in XRP tokens after the SEC lawsuit. In early December, Bitwise Asset Management sold all of its XRP, removing the token from its Bitwise 10 Crypto Index Fund.
In the meantime, Ripple said it plans to fight the SEC’s charges by asking investors not to accept the commission’s position on the matter. A virtual pre-trial has already been set for February 2021.