December 30, 2020 — In response to the U.S. Securities and Exchange Commission (SEC) filing a lawsuit against Ripple Labs, Inc., Coinbase has suspended all XRP trading on its platform. The cryptocurrency exchange further announced it will cease all XRP-related services by January 19, 2021, at 10:00 AM PST.
Key Developments
- December 28, 2020: Coinbase imposed restrictions on XRP trading. Users retain the ability to withdraw or deposit XRP until the discontinuation date.
- January 19, 2021: Coinbase will completely halt XRP services unless Ripple Labs resolves the SEC’s ongoing investigation.
What This Means for XRP Holders
Coinbase stated in an official blog post that all XRP-related activities—including holding, trading, and airdrops—will undergo significant changes in the coming weeks. The platform may terminate services earlier than anticipated based on market health indicators.
Background: SEC’s Lawsuit Against Ripple
On December 22, 2020, the SEC initiated an investigation into Ripple Labs and two executives for allegedly conducting an unregistered securities offering worth $1.3 billion.
"Issuers seeking public market capital must comply with federal securities laws, including registration requirements," said Stephanie Avakian, Director of the SEC’s Enforcement Division.
FAQs
1. Can I still withdraw XRP from Coinbase after January 19?
No. After the deadline, all XRP services—including withdrawals—will be discontinued.
2. Will XRP be relisted if Ripple wins the case?
Coinbase has not confirmed this. Any relisting would depend on regulatory clarity and internal reviews.
3. Are other exchanges delisting XRP?
Several platforms, including Binance US and OKX, are evaluating their stance. 👉 Check OKX’s latest updates here.
4. What alternatives exist for XRP trading?
Decentralized exchanges (DEXs) or platforms in less regulated jurisdictions may continue supporting XRP.
5. How does this affect XRP’s market price?
The SEC’s action has already triggered significant volatility. Prices may fluctuate further as exchanges delist.
Keywords
- XRP delisting
- Coinbase SEC
- Ripple Labs lawsuit
- cryptocurrency regulations
- XRP withdrawal deadline
For real-time updates, follow official SEC filings and Coinbase announcements. 👉 Track SEC cases here.