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Coinbase to Halt XPR Trading after SEC Suit Against Ripple Labs Inc.

Adel 29 December, 2020 1:22 pm Breaking News, Cryptocurrency, Market Update

The Securities and Exchange Commission (SEC) has accused Ripple Labs Inc. of unlawful issuance of securities in the form of sales for XRP (XRPUSD), by selling more than $1 billion of the virtual tokens without registering with the agency.

Later, Coinbase announced that it will halt all XRP trading starting on Jan. 19, 2021.

The XRP price is currently suffering greatly from the news, posting another 18% loss over the last 24 hours. XRP trading at $0.227 at the time of writing.

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