Blockchain.com to Cease XRP Trading Due to SEC Lawsuit Against Ripple

Blockchain.com, a world's leading digital asset platform, has made an official statement about its decision to stop providing XRP trading from Thursday, January 14th at 11:59pm GMT.

According to the announcement released, users who have XRP balances will be allowed to have access to their XRP to send after the company halts trading. However, the company said that it will no longer support receiving more XRP in the Exchange.

“Providing and revoking support for listed assets is an ongoing process. At Blockchain.com, we will continue to monitor developments as they unfold — everything from network security to regulatory compliance and more — as we decide which assets to list and maintain on our Exchange and Wallet,”the company stated.

Let's recall that, on 22 December, 2020, the Securities and Exchange Commission (SEC) has filed an action against Ripple Labs Inc. and two of its executives, alleging that they raised over $1.3 billion through an unregistered, ongoing digital asset securities offering.

Since that, many cryto exchanges and brokers have suspended XRP trading or dropped XRP support, including the major two crypto exchanges Okcoin and Coinbase.