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