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Kraken suspends XRP trading on January 29 for US customers


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20 minutes ago, bellbright said:

https://coinmarketcap.com/ko/rankings/exchanges/     

Select another exchange to buy Ripple in America 

 

Pray the SEC will withdraw the lawsuit against Ripple before Jan 29 or Ripple successfully complete negotiation with the SEC not later than the end of Jan.    

My opinion is that it would be better for the entire space and XRP use case if indeed Ripple takes em to court and mows em down. 

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I emailed Kraken regarding the suspended trading and got this response; "You will be able to deposit, hold, and withdraw your XRP at Kraken after January 29. If that position changes in the future, we will make a public announcement.
After January 29, 2021, U.S. residents will not be able to trade XRP. We intend to cancel open XRP orders and liquidate open XRP positions for U.S. residents on January 29, 2021. U.S. residents are strongly encouraged to resolve their positions prior to that day."

So I have begun moving all of my XRP to my uphold account. I'm sure Kraken is just looking out for themselves, I can't blame them for that, but it sure is irritating.

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45 minutes ago, thewaker said:

So if you don’t move your xrp from the exchange they will liquidate it for you if its still there after the 29th? Thats Just crazy to me. What happened to innocent until proven guilty!

No, you can hold it there still. But...if you have an open order they could liquidate it

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I am not an American, but curious to know, if XRP would be deemed a security, is it then illegal for Americans to trade XRP on a foreign exchange?

 To deposit or withdraw at a foreign exchange seems to be not the problem .. Only that extra step, the act of trading which I wonder..

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9 hours ago, Malloy said:

US residents excluded doesn't worry me...they've been excluded for so many cryptos pretty much everywhere and it's easy to open a anonymous account with a vpn...but financial institutions is where it hurts

Exactly. Every time I turn on financial news or see mainstream articles they name-drop bitcoin or ethereum. All that big institutional money is now flowing anywhere EXCEPT into XRP! It's sad to see. 

I don't care about Kraken or these small fry exchanges, they mean nothing. But the big boys too, right at the start of a bull phase... that stings.

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9 hours ago, thewaker said:

So if you don’t move your xrp from the exchange they will liquidate it for you if its still there after the 29th? Thats Just crazy to me. What happened to innocent until proven guilty!

They don't "liquidate" your account...but if you're short for example and you don't cover they will do it for you...that means all short for ex. will have to buy back their positions

Everything else works fine for US residents... Withdraw Deposit Holding in you account.... and trading still works for the rest of the world...

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