The United States division of Israeli crypto exchange eToro is suspending XRP trading for its customers starting next month.
The exchange announced on Thursday that it would no longer facilitate XRP purchases or conversions for US customers as of January 3, although customers can still withdraw XRP from their eToro wallets to other non-affiliated addresses. It is the latest crypto trading venue to suspend XRP support in the U.S. after the Securities and Exchange Commission (SEC) sued Ripple earlier this month on allegations that it had been selling XRP as an unregistered security for more than seven years. years.
Other exchanges to remove or suspend XRP trading or markets include:
Most of these platforms have removed only XRP from their US markets or platforms, although some have suspended support internationally.
According to the SEC lawsuit, which opened last week in the United States District Court for the Southern District of New York, Ripple, CEO Brad Garlinghouse and President Chris Larsen have sold about $ 1.3 billion in XRP since 2013 The SEC claims that Ripple did not register the XRP as a security or seek an exemption for the token, of which it has about 50 billion in deposit.
In turn, Ripple called the charges “unproven” and promised to file a response to the court in the coming weeks. The San Francisco-based company has repeatedly called the SEC’s “crypto attack” in the U.S., with CEO Garlinghouse claiming that the agency’s actions “directly benefit China.”
A pre-trial conference was scheduled for February 22, 2021, according to public court records, with the parties required to send a joint letter describing the case and the arguments each side plans to make, possible motions and any details of the agreement potential in the previous week.
The SEC and Ripple must also submit a joint letter by February 15, stating whether both parties are willing to allow a judge to oversee proceedings (instead of a district judge).