Kraken to Halt XRP Trading for US Residents

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.

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.

Kevin Reynolds

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.