Coinbase halts trading of XRP following SEC suit against Ripple

Cryptocurrency 2018
Photo Illustration by Yu Chun Christopher Wong/S3studio/Getty Images

Coinbase announced today that it is halting all trades of XRP on its cryptocurrency exchange, according to an official blog post (via Coindesk). Certain kind of trades became restricted today, and the full suspension will go into place January 19th, 2021 at 10:00AM PT. Coinbase is the largest cryptocurrency exchange, and suspending a currency like XRP naturally casts doubt on the currency’s future, even before the SEC lawsuit over it is settled.

Coinbase says it made the decision to suspend XRP “in light” of the suit the US Securities and Exchange Commission (SEC) filed against XRP’s original creator, Ripple. With the suspension in place, people will no longer be able to trade XRP on Coinbase, though they will still be able to deposit…

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Author: Ian Carlos Campbell