OKCoin to Suspend XRP Trading and Deposits on Jan. 4

OKCoin became the latest exchange to suspend XRP trading and deposits as of early next year.

AccessTimeIconDec 28, 2020 at 8:06 p.m. UTC
Updated Sep 14, 2021 at 10:49 a.m. UTC

OKCoin said Monday it will suspend XRP trading and deposits on its crypto exchange, effective on Jan. 4, 2021.

The exchange specified two key dates along the suspension timeline. "At 3 a.m. UTC time on January 4, the exchange's users who have borrowed from the XRP/USD margin pair (including borrowing XRP and U.S. dollars) are required to return the borrowed value before this time at 3 a.m. UTC time on Jan. 4," the exchange said. "Delays will trigger a liquidation by our systems to close the loan contracts."

At 3 a.m. UTC on Jan. 5, XRP's spot trading, margin trading and deposits will be suspended until further notice, according to the exchange.

"It is likely that this situation will take time to reach a resolution. We will proactively inform our customers when we have information that may change our position," OKCoin said in the statement.

OKCoin became the latest exchange to delist XRP because of the U.S. Securities and Exchange Commission's recent filing against Ripple Labs, alleging XRP is a security.


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.

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.