XRP is delist from two smaller exchanges
The U.S. Securities and Exchange Commission’s (SEC) lawsuit against Ripple has repercussions.
Two cryptocurrency exchanges operating in the United States have already removed XRP from the list, pending the outcome of the lawsuit.
These exchanges are New Jersey-based CrossTower and Chicago-based Beaxy.
Kristin Boggiano, crosstower’s manager, told CoinDesk about the issue, “Crosstower’s listing committee is evaluating tokens in many ways. One of the criteria is whether the asset is a securities. Given the uncertainty regarding the status of XRP, CrossTower decided to remove XRP from the list.”he explained.
Beaxy stopped trading for a similar reason. “The SEC and Ripple Labs have been discussing the legal status of XRP for years, ” said Naeem Master, Chief of operations for this exchange, which allows XRP withdrawals until further notice. So the charges against Ripple by the SEC are not an unexpected development. However, Beaxy has an obligation to work in accordance with the legislation.”he said they will reopen trading if it is proven that XRP is not a securities.
XRP has lost a lot of blood. Cryptocurrency has fallen 35 percent since December 22, when the development appeared.
OSL was later added to the list
Among the exchanges that removed XRP from its platform was later added Hong Kong-based OSL. “We have suspended all XRP payments and trading services on the OSL platform until further notice in light of the U.S. Securities and Exchange Commission’s sanction action against Ripple Labs and its two executives, ” OSL said in a statement.” the statement said.