Blockchain.com to Follow Other Exchanges; Freezing XRP Trading on January 14th
Blockchain.com is the latest crypto exchange to halt XRP trading according to an announcement by the firm on January 4. This crypto exchange service provider joins a list of other exchanges that have taken a similar stance since the SEC filed a lawsuit against XRP’s parent company, Ripple.
The statement highlights that Blockchain.com will halt XRP trading within its platform from January 14 at 11:59 pm GMT. It goes on to clarify that XRP traders will retain access to their coins, as well as the ability to send them out, but the exchange will no longer facilitate XRP deposits.
Blockchain.com also made it clear that the action against XRP is a result of the ongoing lawsuit against Ripple, where the SEC claims that it raised $1.3 billion through an unregistered ICO. In essence, the regulator views XRP as an unregistered security.
Ripple’s woes have seen the price of XRP plummet despite the ongoing bull run; in fact, it slid down from 3rd position in market cap to stand at 5th as of press time. Popular exchanges that have already taken action to freeze XRP include Bittrex, Binance U.S, eToro, and Coinbase.
Meanwhile, there is another bandwagon of exchanges that are taking a wait-and-see approach. One of them is Uphold which recently issued its statement clarifying that it will continue to list XRP unless a court decision favors the SEC.