The veteran crypto exchange Kraken, based in San Francisco, is the latest platform to reveal plans to suspend XRP trading beginning at the end of January. Only US-based residents will be impacted by the decision, while all facilities will remain available as expected for customers located outside the country.
Kraken will stop XRP trading for users based in the United States beginning on January 29th at 5 pm PT. The nearly 10-year-old exchange said citizens need to close all positions at 11:59 PT or “their positions will be liquidated.”
In addition, buyers will not be impacted in any form in other countries; the XRP markets will continue to run uninterruptedly.
Kraken was somewhat expected to clarify its decision on SEC charges brought against Ripple last year. CryptoPotato announced that the Commission had claimed that the payment processor had made an unregistered security offering of $1.3 billion. In the following weeks, various crypto exchanges and companies removed the XRP token, which damaged its price.