Quick Take
Wirex will not include XRP in a US version of the app when it launches in January.
Ziglu has decided to suspend XRP trading as of January 12
A handful of crypto wallet firms in the UK are contemplating whether to prevent millions of customers from trading XRP.
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Coinbase announces it will suspend XRP trading as price drops another 10% Coinbase plans to suspend trading for the token on Jan. 19 but added it may be halted earlier as needed. 45569 Total views News
Major cryptocurrency exchange Coinbase will suspend trading for XRP in response to the United States Securities and Exchange Commission taking legal action against Ripple.
According to a blog post published today by Coinbase chief legal officer Paul Grewal, the exchange will fully suspend XRP trading starting on Jan. 19 at 10:00 am PST. Coinbase clarified that “trading may be halted earlier as needed” to maintain the exchange’s market health metrics. In addition, the suspension will reportedly not affect Ripple-backed Flare Network s upcoming Spark (FLR) token airdrop.
Bitwise 10 Crypto Index Liquidates Its Position in XRP, OSL Suspends XRP Services
Dec 24 2020 · 12:45 UTC by Mercy Tukiya Mutanya · 3 min read
Photo: Depositphotos
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Digital assets manager Bitwise has liquidated $9.3 million worth of XRP and reinvested in other assets. Hong Kong’s OSL has suspended the asset from its platform. This is done in response to SEC’s lawsuit against Ripple Inc.
The US Securities and Exchange Commission (SEC) on Tuesday filed a lawsuit against Ripple Labs and CEO Brad Garlinghouse and Chairman Chris Larsen. The SEC contends that Ripple Labs was in violation of federal securities laws for selling the digital asset XRP to retail clients. According to the suit, Ripple has made $1.3B over a period of 7 years from selling XRP. All this has resulted in new measures regarding XRP introduced by different platforms, such as Bitwise.
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On a Scale from One to Five Measuring Security Qualities, the Crypto Rating Council Rates XRP a Four
The
Crypto Rating Council, launched in 2019 by a handful of high profile blockchain-based firms, rates Ripple’s native crypto XRP a 4 out of a scale from 1 to 5 in assessing whether the digital asset is a security under the
CRC Securities Framework Asset Ratings. If a crypto is a 1, it is probably not a security. For example, Bitcoin is a 1, as is USD Coin (a stablecoin based on the dollar). A five means the digital asset is pretty much a security.
The CRC was ostensibly launched to better define the emerging landscape of digital assets in a world where bright-line rules provided by regulators fell short.
Updated Dec 23, 2020 at 8:57 p.m. UTC
An SEC Victory in Ripple Case Would Render XRP ‘Untradeable,’ Market Pros Say
UPDATE (Dec. 22, 22:45 UTC): Shortly after this article was published, the SEC officially filed its lawsuit.
UPDATE (Dec. 23, 02:00 UTC): Added statement from second exchange to halt trading in XRP.
The market for XRP could quickly dry up, causing prices to suffer, if the U.S. Securities and Exchange Commission (SEC) ultimately prevails in an expected lawsuit against Ripple Inc., analysts and traders said.
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