Citing the recent U.S. Securities and Exchange Commission (SEC) lawsuit against Ripple Labs, cryptocurrency exchange Kraken announced it is halting trading of the XRP token for U.S. residents.

  • The halt, which goes into effect Jan. 30 at 1 a.m. UTC, only affects Kraken clients residing in the U.S. Those residing elsewhere will be unaffected.
  • With the halt, Kraken becomes the latest exchange to suspend or end trading in XRP, the cryptocurrency at the heart of a SEC lawsuit against Ripple Labs claiming the token is really a security.
  • Kraken had been a holdout.
  • The move follows Grayscale Investments' dissolution of its XRP Trust earlier this week. Grayscale is a CoinDesk sister company.

 

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