Kraken to Halt XRP Trading for US Residents

Clients residing outside the U.S. will not be affected.

Jan 15, 2021 at 10:45 p.m. UTC
Updated Sep 14, 2021 at 10:57 a.m. UTC

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.

 

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
El presidente de El Salvador promueve la adopción de bitcoin entre países emergentes

Nayib Bukele recibe a representantes financieros de 44 economías en desarrollo en la reunión anual de la Alianza para la Inclusión Financiera.

Nayib Bukele recibe a representantes financieros de 44 economías en desarrollo en la reunión anual de la Alianza para la Inclusión Financiera.

2
Crypto Wallet BitKeep Raises $15M at $100M Valuation

Dragonfly Capital led the round, which will fund a cross-chain DAO for wallet users.

Dragonfly Capital led the round, which will fund a cross-chain DAO for wallet users.

3
SEC’s Gensler Uses Crypto Oversight Needs as Case for Higher Budget

SEC Chair Gary Gensler told U.S. House budget appropriators that he’d like to be doing more to protect crypto investors.

SEC Chair Gary Gensler told U.S. House budget appropriators that he’d like to be doing more to protect crypto investors.

4
Mike Novogratz Ends Twitter Silence, Shares Take on UST/LUNA Crash

The Galaxy Digital CEO confirmed that his company had been taking profits on its Terra holdings this year.

The Galaxy Digital CEO confirmed that his company had been taking profits on its Terra holdings this year.