Blockchain.com becomes the latest crypto exchange to put a hold on the trading of XRP due to the lawsuit filed against the company behind XRP, Ripple by SEC which has since devalued the cryptocurrency and led to massive delisting of the crypto by many crypto exchange companies.
Blockchain.com released a statement on its Medium page on Monday, stating that it will halt XRP trading on Thursday, January 14th at 11:59pm GMT.
The company gave the obvious reason – the recent SEC action against Ripple Labs, as the basis for its action.
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The statement went further to explain that its customers can, however, send their XRP even after the deadline date, but will no longer be able to deposit XRP.
“For all customers who have XRP balances, you will continue to have access to your XRP to send after we halt trading, but we will no longer support receiving more XRP in the Exchange,” the report said.
Blockchain.com is the latest crypto exchange to announce the delisting of XRP, following the steps of Coinbase, eToro, Binance.US and Bittrex which all gave stated the lawsuit filed against Ripple Lab by SEC as the reason for the action.
The Security Exchange Commission recently sued Ripple Lab, the company behind XRP, and its two top executives for allegedly selling unregistered security to the public.