In connection with the recent SEC lawsuit against the US-based company Ripple Labs, the major worldwide crypto exchange Kraken announced it is pausing trades with the infamous XRP token for citizens of the USA.
The halt, which will go into effect from January 30 at 1 a.m. UTC, only concerns Kraken clients residing in the U.S. Those living under different jurisdictions will not be affected.
With this decision, Kraken joins the long line of exchanges suspending or ending trades with XRP, the token that became the reason for the U.S. Securities and Exchange Commission lawsuit against Ripple Labs. The regulator argues that the token, in reality, represents a security.
