Bitstamp to stop trading and depositing XRP in January

XRP is in trouble following SEC lawsuit against Ripple.

BItstamp is the largest crypto exchange to block US customers.

The third largest cryptocurrency is struggling to maintain its price with these claims

The popular BItstamp exchange has announced that it will halt trading in XRP for US clients. This follows an announcement from the SEC that the regulator is pursuing legal action against Ripple Labs .

XRP haters continue to feast on as another crypto exchange stops trading in the coin. After Ripple revealed that it was facing a lawsuit by the US Securities and Exchange Commission (SEC) for illegal sales of securities, the price of Bitcoin Evolution scam fell.

Soon after, a number of exchanges started removing XRP from their quotation or halting trading for US clients. The exchanges OSL, CrossTower and Beaxy have all stopped trading in XRP. The Bitwise crypto hedge fund has removed the coin from its wallet. All cited the SEC lawsuit as the reason.

Bitstamp then threw in the towel and announced the end of trading in XRP for its US clients. Bitstamp is the largest exchange to report the news to date.

Following the recent SEC filing alleging that XRP is a security, we will be halting trading and filing of XRP for all US clients as of January 8, 2021. Other countries are not affected. Read more:

On their website , the company announced that it will stop all trading and depositing for XRP on January 8, 2021 at 9 p.m. UTC. US customers will then be able to withdraw XRP, while citizens of other countries will not be affected.

Bitstamp, which has a daily trading volume of $ 500 million , says it will monitor the situation and adjust accordingly.

The best title

Ripple Labs has announced that they expect a trial by the SEC the day before authorities officially release the information. Authorities accuse CEO Brad Garlinghouse and co-founder Chris Larsen of carrying out an „ongoing“ illegal sale of securities .

In the United States, securities must be registered with the relevant authorities, usually the SEC, to be traded publicly. Among the non-securities assets are property and money. Ripple Labs insists that XRP, which is designed to streamline money transfers, is a currency, not a security.

For its part, when the Fed comments on the status of a cryptocurrency, it generally designates it as property. Some frustrations arise with phenomena like Proof of Stake, in which small blocks of rewards might be considered separate taxable events. In the US Congress , there have been some efforts to try to smooth inconsistencies.

In the past, the US government has suggested that it would not consider Bitcoin (BTC) and Ethereum (ETH) to be securities. In 2019, Larsen and Garlinghouse wrote an open letter pleading with the U.S. government to slow down regulation.

Zeus Capital: Following Ripple, SEC attacks ChainLink team

Zeus Capital has periodically criticised the developers of the ChainLink (LINK) token. Back in the autumn, it called the crypto project a „bubble“ that only expands by pumping in new investors.

According to Zeus Capital, ChainLink is a common pyramid scheme designed to maximise profits and collapse.

In the aftermath, the company even announced its intention to sue the developers of the token. And in its statement, it noted that the plaintiffs would also include defrauded investors.

This week, the company has once again lashed out at the project. Zeus Capital believes that following Ripple, ChainLink will soon be in trouble with the SEC.

Recall that the SEC accused Ripple of selling unregistered securities, after which the XRP token was sprinkled. Zeus Capital expects the SEC to attack ChainLink as early as next year.

A statement from the company on Twitter noted:

XRP is already down more than 15% and the show has yet to start. Who’s next? Hint: something more centralised, millions of dollars in useless tokens every week.
In November, the company announced that it was prepared to reward whoever provided it with information about ChainLink’s fraudulent activities. The reward is allegedly $100,000.

Zeus Capital recently reported that $57,000 has already been received by a whistleblower. The remaining $43,000 is awaiting its recipient.

According to the company, LINK will also eventually be recognised as a security and its developers will be prosecuted by the SEC. The token is currently trading at around $11.8. It ranks seventh among the largest digital currencies.

Translated with www.DeepL.com/Translator (free version)

Saylor risponde alle richieste di risarcimento Il Bitcoin Trove di MicroStrategy lo rende un ETF

Non importa come sembra, nuota o ciarlatano, se la legge dice che non è un’anatra, allora non lo è – The Michael Saylor Guide to Waterfowl Identification.

No, per quanto ne sappiamo, Saylor, CEO della società di business intelligence MicroStrategy, non ha scritto nessuna guida del genere. Tuttavia, se lo ha fatto, si può immaginare una voce come questa che rovescia il famoso „test dell’anatra“ della realtà osservata che il poeta James Whitcomb Riley si crede abbia coniato.

Certamente cattura il ragionamento letter-of-the-law che Saylor ha usato su Twitter venerdì sera per respingere la diffusa speculazione che i recenti massicci acquisti di bitcoin (BTC, -1,49%) della sua società l’abbiano trasformata in una società di investimento o addirittura in un fondo di scambio di bitcoin Exchange-Traded Fund (ETF) di fatto.

Mentre alcuni hanno sostenuto che gli investitori di MicroStrategy (MSTR), quotata al Nasdaq, stanno ora acquistando un veicolo di investimento regolamentato che dà loro un’esposizione alla principale valuta crittografica, Saylor si è rivolto a citazioni statutarie per sostenere che la sua società non ha nulla del genere:

Da agosto, MicroStrategy ha acquistato 475 milioni di dollari in bitcoin e l’azienda non mostra alcun segno di arresto. La scorsa settimana, MSTR ha venduto 650 milioni di dollari in banconote convertibili senior per raccogliere fondi per acquisire ancora più bitcoin.
Abbonatevi a Blockchain Bites, il nostro aggiornamento quotidiano con le ultime notizie.

Iscrivendoti, riceverai e-mail sui prodotti CoinDesk e accetti i nostri termini e condizioni e la nostra politica sulla privacy.

Durante il binge di acquisto di bitcoin, le azioni MSTR sono più che raddoppiate, in quanto molti investitori hanno visto il possesso di azioni della società come un modo per ottenere l’esposizione a bitcoin, proprio come il possesso di azioni di un ETF dà un’esposizione a qualsiasi attività in cui l’ETF viene investito. Ma con i suoi tweet di venerdì, Saylor diceva essenzialmente che non importa cosa pensano gli investitori. Le parole „in effetti“ fanno la differenza.

Con la sua abituale chutzpah Saylor sta tracciando una linea nella sabbia dicendo che pensa che l’acquisto di 40.824 bitcoin da parte di MSTR sia semplicemente la scelta della società di detenere le proprie riserve in una valuta diversa dal dollaro americano, indipendentemente da come gli investitori la vedano o dal motivo per cui stiano caricando le azioni di MSTR. Non importa che Saylor, che controlla il 70% delle azioni MSTR, sia stato il maggiore beneficiario dell’aumento del titolo alimentato da bitcoin.

Facendo pubblicamente riferimento alle leggi/regolamenti applicabili, Saylor potrebbe anche sperare di dissuadere la U.S. Securities and Exchange Commission dal rivedere il proprio lavoro sull’identificazione degli uccelli acquatici, una rivisitazione, che potrebbe portare a una diversa sentenza sul bitcoin e quindi, cambiando leggermente specie, cuocere la sua oca.