Coinbase to Freeze XRP Trading Amid SEC Lawsuit Against Ripple

[Shahinaz]

Following a pending lawsuit by the Securities and Exchange Commission (SEC) against Ripple Labs, Coinbase has announced that it will be suspending its XRP trading books beginning in mid-January.

The suit alleges that Ripple Labs, former CEO Christian Larsen, and current CEO Brad Garlinghouse are guilty of raising $1.3 billion from XRP token sales as unlicensed securities since 2013.

Due to legal ramifications and the uncertainty of the situation, Coinbase decided that it will suspend all XRP trading beginning on Jan. 19, 2021.

Coinbase Goes on the Defensive
Coinbase went into more detail in a blog post made earlier this morning.

Until Jan. 19, 2021, when all XRP trading will be halted, Coinbase has moved its order books to limit only. The exchange did not give a definitive answer on if or when trading would be re-opened, but it will likely be determined by the development of the SEC case.



more : https://beincrypto.com/coinbase-freeze-xrp-trading-sec-lawsuit-ripple/


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