Blockchain.com, one of the early crypto wallets and now a cryptocurrency exchange, has become the latest to suspend trading with XRP, citing the US financial market regulator’s allegations and the lawsuit against Ripple.
The exchange will suspend trading with XRP tokens next week starting January 14. Blockchain.com has not yet provided a date for resumed services due to the uncertainty in Ripple’s case.
However, XRP holders will have some limited services on the cryptocurrency exchange as the official announcement detailed that Blockchain.com clients with XRP balances can send the token but cannot receive it.
The announcement said that “Providing and revoking support to listed assets is an ongoing procedure.” Blockchain.com will continue to track developments — everything from network security and regulatory compliance — as we determine which assets we want to list and keep on our Exchange and Wallet. ”
Exchanges Saving Their Business
More than a dozen known exchanges and other crypto-related companies have dropped their services with XRP after the Securities and Exchange Commission’s action against fearing retaliation from the regulator.
XRP trading has been suspended by Coinbase, Bittrex and Bitstamp. Binance will no longer offer XRP trading. However, Binance.US, the US subsidiary of Binance.US, will remove the troubled digital currency from its exchange next week.
These factors have had a negative impact on XRP’s market price. XRP trades at $0.22 when Bitcoin and other major cryptocurrencies rally.
Interestingly, a few exchanges such as Uphold and Revolut decided to offer XRP. Uphold even voiced its support for Ripple, and said that it would not take any action until the court decided the fate of Ripple.
Another Lawsuit
While the California-based payments company is preparing to meet the SEC next month for a pretrial conference, the company is now facing another lawsuit, this time from one of its investors, Tetragon Financial Group.
