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7 December 2023
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26 Crypto Platforms Drop Support for XRP in Wake of SEC’s Ripple Lawsuit

A growing list of crypto platforms are rescinding support for XRP as Ripple prepares for a legal battle with the U.S. Securities and Exchange Commission (SEC).

Analyst Leonidas Hadjiloizou has compiled a list of 26 companies that have changed their policies surrounding XRP in response to allegations that the asset may be an unregistered security.

Each crypto platform is adopting its own parameters regarding the sale or exchange of the digital asset. Some companies have removed support for the asset only on their US platforms, while others have cut off trading for XRP globally. Additionally, some crypto exchanges have delisted the asset while others have halted, suspended, or disabled trading for XRP.

Crypto exchanges Bitstamp, Abra and eToro along with crypto market maker B2C2 have suspended trading for XRP in the US only. Meanwhile, crypto exchange Stex has also disabled trading for XRP in the US only.

Exchanges Coinbase, Beaxy, OSL, OKCoin, Ziglu and iTrustCapital are suspending trading for Ripple’s native asset as well, but are choosing to do so across all countries in which they operate. Market makers Jump Trading and Galaxy Digital are taking the same approach.

As for those crypto exchanges delisting XRP entirely in the US, they include BinanceUS, CrossTower, Crypto.com and Bittrex. Crypto wallet Swipe is delisting XRP in the US as well.

Trading platform Eobot is the only exchange that has delisted XRP on a global scale.

Asset manager 21shares is also delisting globally and so is Sarson Funds. Sarson Funds has also liquidated its positions in XRP along with fellow crypto asset manager Bitwise.

Crypto payments firm Simplex is blocking XRP transactions globally while payments company Wirex is excluding XRP payments in the US only.

Brokers Genesis Trading and Bitcoin Suisse have removed support for XRP entirely.

Some crypto platforms are already embroiled in legal battles due to their previous support for the digital asset in question.

Coinbase is facing a lawsuit over its sale of XRP. The plaintiff alleges that Coinbase sold XRP despite knowing that it was an unregistered security.

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