Okcoin on 29th December Announced to Suspend XRP from trading and desposits.
The Decision came after a Lawsuit was filed against two Executives Of XRP by SEC
This is a bad news for the coin and its traders as other exchanges are likely to follow.
“We have been closely monitoring the news surrounding the December 22nd SEC lawsuit against Ripple, the company behind XRP, and two of its key executives. As the lawsuit proceedings take place, we have determined it is the best course of action to suspend XRP trading and deposits on OKCoin effective January 4, 2021. This suspension timeline will include two key dates:
- 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
- 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. We will proactively inform our customers when we have information that may change our position.”
OKCoin a globally licensed exchange with offices in San Francisco, Malta, Hong Kong, Singapore, Japan and Korea. We are a collective of global citizens with a common passion to help decentralize finance and level the economic playing field for everyone around the world. We will waiting to see how market reacts to the delisting. Xrp is currently being traded at $0.283