Recent news has been all but good for Ripple (XRP) after the SEC decided to sue them over a 7 year $1.3 billion token sale. SEC firmly believes that Ripple is a security, and they are therefore not legally allowed to conduct any selling of tokens to retail customers.
Ripple has denied this on several occasions and released a statement on the matter. Where they clearly signal that they disagree with their decision and that they intend on challenging it.
At Least 14 Crypto Exchanges Suspend Ripple (XRP) Trading to Delist
Most major established cryptocurrency exchanges have or will be suspending the trading of XRP. Coinbase, one of the world’s leading crypto exchanges, will suspend all trading of Ripple (XRP) on January 19th. Binance has followed suit and as the world’s biggest exchange will be removing all deposits and trading of Ripple on January 13th.
Other crypto exchanges include:
First Major Bitcoin Casino Follows Suit
For the first time we are seeing the aftermath of the SEC case spilling out into other industries. A worrying sign for Ripple of what may be to come. One of the world’s oldest and biggest crypto exchanges will be suspending and eventually delisting Ripple entirely. As of yesterday, the 6th of January, deposits in Ripple has been removed. Meanwhile players can still continue to play using their available Ripple balance and can withdraw as per usual. Although, that looks to be just a matter of time before that support will be removed too.
If SEC were to change their decision on the matter this would obviously spell good news for Ripple. Although it is difficult to imagine that they would. While that is naturally going to have a short term impact on Ripple, it is highly doubtful that it will halt operations extensively and long term. Experts agree that it is just a matter of time before Ripple moves operations to a more crypto-friendly jurisdiction to circumvent any future issues with SEC.