Following the news of different crypto-firms delisting XRP from their platforms, Blockchain.com has also dropped the news on its XRP users. Blockchain.com is a popular trading platform and a secure wallet provider. The firm has announced that following the recent proceedings on legal action faced by XRP, it has decided to temporarily delist XRP.
The firm has announced that it will be carrying out the delisting of XRP at the beginning of the next week. By doing this, Blockchain.com has also added its name among the list of exchanges that have already delisted XRP. Some of the prominent cryptocurrency exchanges that have delisted XRP so far include OKCoin, Coinbase, and Binance.US.
The announcement of delisting XRP from its platform has been made by Blockchain.com just today. In the official announcement, the firm has advised all its users that it will cease trading for the XRP assets or pairs starting Thursday, January 14, 2021. The delisting is already scheduled to be put in place at 11:59 pm GMT.
Blockchain.com has announced that even when XRP trading is ceased on the platform, the users would still have access to their XRP balances. They will have no issues withdrawing or moving their XRP to other platforms or wallets. However, they will not be able to receive XRP from outside sources. The exchange has confirmed that it will stop receiving anymore XRP into its platform starting January 14, 2021.
The delisting of XRP on several cryptocurrency exchanges and other crypto-firms comes after the feud between SEC and XRP. It was back on the 18th of December, 2020, when the Securities and Exchange Commission released a statement against Ripple (XRP). The SEC alleged that Ripple had been involved in selling its securities to American citizens without being registered or authorized by the SEC.
Therefore, the Securities and Exchange Commission announced that it was going to file a lawsuit against XRP. That was the turning point for XRP as ever since the announcement, XRP is being delisted by every other cryptocurrency exchange.
At the beginning of December 2020, XRP was ranked as the third-largest cryptocurrency in the world with a market capitalization of $135 billion. As of now, XRP’s current market capitalization is below $10 billion and from the looks of it, the number is going to drop even more.
After the SEC launched an all-out attack on Ripple (XRP), several other cryptocurrencies have also started fearing the SEC. Just recently, a wave of fear spread among the users of Tether (USDT), who were concerned about SEC’s recent actions against XRP.
However, the CEO of Tether (USDT) assured the entire Tether community that their crypto is following all the regulations and is registered with SEC. Therefore, its users do not have to worry about the currency getting penalized by the regulatory authorities.