Crypto exchange platform, Coinbase will completely block the sale and purchase of XRP assets starting January 19, 2021 at 10 am Pacific time (2 am Malaysian time).
The decision comes after Ripple was sued by the Securities and Exchange Commission (SEC) last week for allegedly violating investor protection laws while selling XRP currency.
Prior to Coinbase, four exchange platforms had already blocked XRP as soon as the news of the suit spread, causing the asset price to plummet.
Coinbase also assures XRP holders that they still have the opportunity to access the wallet and are available for deposits as well as withdrawals after the restrictions take effect.
OKCoin crypto exchange platform also took a similar decision, will effectively block XRP business and deposits starting January 4, 2021.
OKCoin has issued an important notice to its users:
1. 4 January 2021, 11 am Malaysian time: Consumers who make a loan from XRP / USD margin are asked to make a return before that date.
2. 5 January 2021, 11 am Malaysian time: Every XRP purchase and sale transaction will be blocked until further notice.
At the time of writing, XRP is trading at $ 0.23, down 6.9% from its highest price in 24 hours. At the same time, these assets have seen a severe decline of 60% in just 10 days.
