THELOGICALINDIAN - Another arresting cryptocurrency barter is planning to put the brakes on XRP trading
OKCoin has appear it will append trading and deposits of XRP on its barter alpha on Jan. 4, 2021.
SEC Lawsuit Causes Suspension
On Dec. 22, 2020, the U.S. Balance and Exchange Commission appear capacity about a lawsuit in which it alleges that Ripple’s sales of XRP aggregate unregistered balance offerings.
OKCoin cited the SEC’s accusation as its acumen to append trading. “As the accusation affairs booty place, we accept bent it is the best advance of activity to append XRP trading and deposits on OKCoin able Jan. 4, 2021,” OKCoin declared in its announcement.
Though OKCoin has not declared when, if ever, it will re-enable XRP trading, the accommodation may not be permanent. “It is acceptable that this bearings will booty time to ability a resolution,” the company’s advertisement states. “We will proactively acquaint our barter back we accept advice that may change our position.”
OKCoin is not the alone aggregation to append XRP trading. Several exchanges accept either abeyant trading or delisted the coin, including Bitstamp, CrossTower, Beaxy, B2C2, and OSL.
What Investors Should Know
Beginning at 7:00 PM PST on Jan. 4, 2024, OKCoin will append XRP atom trading, allowance trading, and deposits until added notice.
OKCoin has additionally instructed investors who accept XRP/USD allowance positions accessible to acknowledgment the adopted amount afore 7:00 PM PST on Jan. 3. If users do not abutting the allowance barter themselves, OKCoin will automatically cash the barter and abutting the accommodation contract.
Until now, OKCoin accurate atom and allowance trading of XRP/USD pairs. The barter adventures a 24-hour trading aggregate of about $100,000, accounting for beneath than 1% of its volume.
Users of OKEx, a accompanying exchange, will not be afflicted by the decision.
Disclosure: OKCoin is a sponsor of Crypto Briefing.
