Binance.US, the US branch of the global crypto exchange, and crypto-friendly asset trading service eToro are the latest platforms to suspend XRP trading in the United States.
With the announcement of the news on Thursday, eToro reveals that from January 3, 2021, US customers will not be able to trade with XRP. Clients already dealing with current operations at the time will have three weeks to close all open positions. statement.
For Binance.US, the effective date of its XRP delisting is January 13, 2021. However, the delisting will not affect the claim process for Flare’s Spark (FLR) token airdrop distribution event.
Binance.US and eToro are now joining people like Coinbase and Bittrex as major exchanges to stop XRP trading for US traders. Coinbase is also the subject of a lawsuit by a disgruntled trader accusing the platform of knowingly selling XRP to its users as an unlicensed security.
These actions came in the wake of the Securities and Exchange Commission’s enforcement action against Ripple. The SEC is suing Ripple for violating security laws in the sale of XRP tokens.
Apart from the stock exchange that listed or suspended XRP trading, investment firms in the US with XRP positions also liquidated their holdings. Grayscale, the manager of digital assets, recently dropped XRP tokens worth about $ 5.77 million after the SEC lawsuit. Earlier in December, Bitwise Asset Management sold all of its XRP and removed the token from its Bitwise 10 Crypto Index Fund.
Meanwhile, Ripple said it intends to fight back against SEC accusations and urges investors not to accept the commission’s position on the matter. A virtual pre-trial has already been set for February 2021.