Social Platform eToro suspends XRP trading in the US

eToro, an Israeli social trading and multi-asset brokerage company, announced it has decided to prohibit purchases of XRP on its platform and to prohibit any conversion of XRP held in a customer's eToro Wallet. The decision, understandably, was made due to the U.S. Securities and Exchange Commission's (SEC) recent lawsuit against Ripple, which alleges that XRP is an unregistered security.

According to the announcement, “customers with existing XRP positions will have until January 24 at 12pm Eastern Standard Time to close such positions by entering sell orders on the eToro platform”.

For now, customers in the US are still able to hold XRP in their eToro Wallet. Non-US customers are unaffected and can trade all cryptocurrencies as normal, as well as derivatives of such assets.

eToro said they would continue to monitor the situation for new developments and, share additional information regarding XRP through both its blog and the eToro US Twitter account.