Cryptocurrency exchange OKCoin has announced suspension of XRP trading and deposits. The decision will enter into force on January 4, 2021.
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According to an official announcement, users who have borrowed assets from the XRP/USD margin pair are required to return the borrowed funds before 7:00 PM PST, January 3, 2021. The exchange will suspend not only spot and margin trading but also deposits in XRP on January 4, 2021.
"It is likely that this situation will take time to reach a resolution. We will proactively inform our customers when we have information that may change our position," the exchange said.
Hence, OKCoin became the 12th crypto platform that suspended support for XRP after the US Securities and Exchange Commission (SEC) filed a lawsuit against Ripple. The SEC says Ripple undertook distribution of the XRP tokens without registering offers and sales of XRP with the SEC.
iHodl previously reported that the Luxembourg-based cryptocurrency exchange Bitstamp halted all trading and deposits of XRP for its US customers. The exchange says its US customers will still be able to withdraw XRP from Bitstamp. Customers from other countries are not affected.
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