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B2C2 Becomes Latest Crypto Market-Maker to Stop XRP Trading: Report
Non-U.S. clients can still trade the token but need to pre-fund all short trades, the report said.
Updated Sep 14, 2021, 10:48 a.m. Published Dec 26, 2020, 8:05 p.m.
Cryptocurrency market maker B2C2 halted the trading of XRP with U.S.-based counterparties, effective this past Thursday, following the U.S. Securities and Exchange Commission's lawsuit against Ripple Labs, according to a report in The Block.
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- Non-U.S. clients can still trade the token but need to pre-fund all short trades, according to The Block report, which cited no sources
- B2C2's move comes as cryptocurrency exchanges Beaxy, Bitstamp, OSL and CrossTower have said they were halting XRP trading, as well as market-makers Galaxy Digital and Jump Trading, which both stopped XRP market making.
- According to a lawsuit filed Tuesday, Ripple raised $1.3 billion over a seven-year period to retail investors through its sale of XRP on an ongoing basis. If the SEC prevails, XRP could become a pariah token as platforms that continued to list the crypto may have to register as securities exchanges.
UPDATE (Dec. 27, 1:01 UTC): Adds that OSL and CrossTower have also suspended XRP trading.
Read more: An SEC Victory in Ripple Case Would Render XRP ‘Untradeable,’ Market Pros Say
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