In light of the SEC’s recent action against Ripple Labs, Inc., Coinbase plans to suspend trading in XRP on Tuesday, January 19, 2021 at 10 AM PST.
By Paul Grewal, Chief Legal Officer
In light of the SEC’s lawsuit against Ripple Labs, Inc, we have made the decision to suspend the XRP trading pairs on our platform. Trading will move into limit only starting December 28, 2020 at 2:30 PM PST, and will be fully suspended on Tuesday, January 19, 2021 at 10 a.m. Pacific Standard Time*. We will provide additional updates, if any, through the Coinbase Support Twitter account, including if there are any changes to timing.
The trading suspension will not affect customers’ access to XRP wallets which will remain available for deposit and withdraw functionality after the trading suspension. Further, customers will remain eligible for the previously announced Spark airdrop (subject to approval in certain jurisdictions), and we will continue to support XRP on Coinbase Custody and Coinbase Wallet.
Coinbase remains committed to being the most trusted platform for trading cryptocurrency. We strive to provide our customers with access to a broad set of assets, all of which are evaluated against our Digital Asset Framework to assess factors like security, compliance, and the project’s alignment with our mission of creating an open financial system for the world. We take seriously any decision to change our customers’ access to one of those assets.
We will continue to monitor legal developments related to XRP and update our customers as more information becomes available.
*Trading may be halted earlier as needed to maintain our market health metrics
Our decision to support any asset or functionality requires significant technical and compliance review and may be subject to regulatory approval in some jurisdictions. We therefore cannot guarantee when or if the services mentioned in this post will be available in any specific jurisdiction at this time.
Coinbase will suspend trading in XRP on January 19 was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.
Check out the original article here.