• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • About us
  • Write for us
  • Terms and Conditions
  • Privacy Policy
  • Disclaimer
  • Contact
  • All Posts
  • Advertise

TronWeekly

Crypto World News

  • Home
  • Education
    • Best TRON Wallets
    • Beginner’s guide to TRON
  • Opinion
    • Tron Tokens
    • Market Analysis
  • Industry
    • Tron Exchange
    • Project Review
  • Press Release
  • Advertise
  • About us
    • The Team
    • Editorial Policy
    • Write for us
    • Privacy Policy
    • Disclaimer
    • Terms and Conditions
    • Contact
You are here: Home / News / Altcoin News / Kraken Becomes Latest Crypto Venue To Halt XRP
Kraken Becomes Latest Crypto Venue To Halt XRP

Kraken Becomes Latest Crypto Venue To Halt XRP

January 16, 2021 by Chayanika Deka

Troubled times for XRP continued as San Francisco-based cryptocurrency exchange Kraken becomes the latest to announce its plan to halt the trading of the crypto-asset for U.S. residents by the 29th of January 2021 at 5 pm PT. This comes after the US Securities and Exchange Commission [SEC] brought its lawsuit against blockchain company Ripple last month, which alleged that the sales of XRP qualified as an unregistered securities offering.

Kraken is not the only prominent exchange to have made plans to suspend trading of the token whose value dropped by nearly 50% since the regulator filed the suit. Notably, well-known crypto platforms such as OKCoin, Coinbase, Bittrex, Genesis, Binance.US, and eToro has also suspended XRP trading in recent weeks.

What Does Kraken’s Move Mean For Customers?

The platform notified that it will be implementing the process any time of the said data and the US-based customers will have just two weeks to continue trading the crypto-asset. It also urged its customers to resolve their positions prior to the 29th of January. Despite this, the clients residing in the country will still be able to deposit, hold, and withdraw XRP with Kraken.

According to the official blog post released by the platform, those residing elsewhere will not be affected in any way.

Kraken further noted that the US residents with spot positions on margin must satisfy any outstanding margin obligations latest by the 28th of January or face liquidation. Its post read:

We intend to cancel open XRP orders and liquidate open XRP positions for U.S. resident We are monitoring the situation regarding the SEC’s filing and will adapt according to any new developments.

Should the position regarding holding, depositing, and withdrawal of XRP happen to change in the future, the exchange would make a public announcement accordingly.

XRP Collapses

XRP did not take the news well as it registered a fall of more than 16% over the past 24-hours driving the price to $0.279 at the time of writing. Soon after which DeFi token Polkadot [DOT] blasted past XRP to become the fourth largest cryptocurrency

Filed Under: Altcoin News, News Tagged With: Binance US, Coinbase, eToro, Kraken, Ripple (XRP), SEC, Securities and Exchange Commission

Primary Sidebar

Recent Posts

  • CryptoGames –Spectacular Games, Invulnerable Security, Swift Transactions and Much More! March 2, 2021
  • Google Finance Adds ‘Crypto’ Tab featuring Bitcoin, Litecoin, Ethereum, Bitcoin Cash March 2, 2021
  • Ethereum [ETH] Bounces From Key Support; Aims For $1,600 March 1, 2021
  • Tether Discloses Alleged Extortion Attempt; Calls Circulating Documents ‘Bogus’ March 1, 2021
  • Ultimate Guides To Buy Bitcoins March 1, 2021


Footer

News

  • Altcoin News
  • Bitcoin News
  • Blockchain
  • Tron News
  • World

Digest

  • Meet the Founder
  • Price Winning Article
  • DeFi
  • Cyber Security
  • Crypto Scam

Industry

  • Project Review
  • Technology
  • Fintech
  • Tron Exchange
  • New in Town

Tron Universe

  • Event and Tron Parties
  • New in Town
  • Tron Tokens

Follow Us

Subscribe US

Copyright © 2021 · Tron Weekly. All Rights Reserved. NOTE: Tron Weekly is an independent crypto news site that adheres to the strict journalism policy anchored on transparency, trust, and objectivity, we have no affiliation with the TRON Foundation, its founder Justin Sun or any other cryptocurrency firm.