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The U.S. division of Israeli crypto exchange eToro is suspending XRP trading for its clients starting next month.
The exchange announced Thursday that it will stop facilitating XRP purchases or conversions for U.S. customers effective January 3, although customers can still withdraw XRP from their eToro wallet to other unaffiliated addresses. It is the latest crypto trading platform to suspend XRP support in the United States after the Securities and Exchange Commission (SEC) sued Ripple earlier this month over allegations that it was selling XRP as a title not registered for more than seven years.
Other exchanges to withdraw or suspend XRP trading or markets include:
Most of these platforms have only removed XRP from their US markets or platforms, although a few have suspended support internationally.
According to the SEC complaint, which was filed in the U.S. District Court for the Southern District of New York last week, Ripple, CEO Brad Garlinghouse and President Chris Larsen have sold $ 1.3 billion worth of XRP since 2013. The SEC alleges Ripple failed to register XRP as security or seek an exemption for the token, of which it holds nearly $ 50 billion in escrow.
For his part, Ripple called the allegations “unproven” and promised to file a response in court in the coming weeks. The San Francisco-based company has repeatedly called the SEC lawsuit a “crypto attack” in the United States, with CEO Garlinghouse saying the agency’s actions “directly benefit China.”
A pre-trial conference is scheduled for February 22, 2021, according to public court records, with parties required to submit a joint letter outlining the case and the arguments each party plans to make, potential motions, and any possible details of payment the week before. .
The SEC and Ripple are also due to file a joint letter by Feb. 15 indicating whether both parties are willing to agree to a magistrate judge overseeing the proceedings (rather than a district judge).
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