OKCoin Decides to Suspend XRP Trading and Deposits

OKCoin, a leading blockchain technology company, has published a statement to suspend XRP trading and deposits effective January 4, 2021. The decision comes nearly a week after the U.S. Securities and Exchange Commission hit Ripple with a lawsuit.

This suspension timeline will include two key dates:

1. 7:00 PM PST, Jan 3, 2021: Users who have borrowed from the XRP / USD margin pair (incl. Borrowing XRP and USD) are required to return the borrowed value before this time. Delays will trigger a liquidation by our systems to close the loan contracts.

2. 7:00 PM PST, Jan 4, 2021: spot trading, margin trading, and deposits will be suspended till further notice. 

It is likely that this situation will take time to reach a resolution. The company will monitor legal developments related to XRP and update the customers as more information becomes available.