Bitstamp to Halt XRP Trading, Deposits in US Due to SEC Lawsuit

Bitstamp is the first major U.S.-based crypto exchange to respond to the SEC lawsuit against Ripple.

Dec 25, 2020 at 4:40 p.m. UTC
Updated Sep 14, 2021 at 10:48 a.m. UTC

Cryptocurrency exchange Bitstamp said it's halting XRP trading and deposits for all U.S. customers on Jan. 8, 2021, because of the U.S. Securities and Exchange Commission's recent filing against Ripple Labs, alleging XRP is a security.

  • U.S. customers will be able to withdraw their XRP even after trading is halted, Bitstamp said.
  • Other countries are not affected, Bitstamp said.
  • Bitstamp is the first major cryptocurrency exchange to take action on XRP in response to the SEC's lawsuit against Ripple.
CoinDesk - Unknown

Read our ongoing coverage of the SEC's case against Ripple and its impact on the industry.

The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
CoinDesk - Unknown
Crypto Asset Managers Chase Yield With New Investment Products

A cocktail of high inflation and cash-hungry crypto firms are prompting fund issuers like Bitwise and 21Shares to get creative.

A cocktail of high inflation and cash-hungry crypto firms are prompting fund issuers like Bitwise and 21Shares to get creative.

CoinDesk - Unknown
2
CoinDesk - Unknown
First Mover Asia: Bitcoin Dominates but Altcoins Lurk

Although Terra's collapse has raised existential questions about the future of DeFi, some traders appear to be preparing for a return to altcoins; BTC remains rangebound below $30,000 in Tuesday trading.

Although Terra's collapse has raised existential questions about the future of DeFi, some traders appear to be preparing for a return to altcoins; BTC remains rangebound below $30,000 in Tuesday trading.

CoinDesk - Unknown
3
CoinDesk - Unknown
NEAR Protocol

CoinDesk - Unknown
4
CoinDesk - Unknown
MOBOX

CoinDesk - Unknown