Kraken to Halt XRP Trading for US Residents

Clients residing outside the U.S. will not be affected.

Jan 15, 2021 at 10:45 p.m. UTC

Updated Sep 14, 2021 at 10:57 a.m. UTC

Brad Garlinghouse Ripple — Ripple CEO Brad Garlinghouse

Citing the recent U.S. Securities and Exchange Commission (SEC) lawsuit against Ripple Labs, cryptocurrency exchange Kraken announced it is halting trading of the XRP token for U.S. residents.

The halt, which goes into effect Jan. 30 at 1 a.m. UTC, only affects Kraken clients residing in the U.S. Those residing elsewhere will be unaffected.
With the halt, Kraken becomes the latest exchange to suspend or end trading in XRP, the cryptocurrency at the heart of a SEC lawsuit against Ripple Labs claiming the token is really a security.
Kraken had been a holdout.
The move follows Grayscale Investments' dissolution of its XRP Trust earlier this week. Grayscale is a CoinDesk sister company.

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