We have been closely monitoring the news surrounding the December 22nd SEC lawsuit against Ripple, the company behind XRP, and two of its key executives. As the lawsuit proceedings take place, we have determined it is the best course of action to suspend XRP trading and deposits on OKCoin effective January 4, 2021. This suspension timeline will include two key dates:
- 7:00 PM PST, Jan 3, 2021: Users who have borrowed from the XRP / USD margin pair (incl. Borrowing XRP and USD) are required to return the borrowed value before this time. Delays will trigger a liquidation by our systems to close the loan contracts.
- 7:00 PM PST, Jan 4, 2021: spot trading, margin trading, and deposits will be suspended till further notice.
It is likely that this situation will take time to reach a resolution. We will proactively inform our customers when we have information that may change our position.