Ripple is in trouble with the SEC. The war seems to have begun. Ripple CEO Brad Garlinghouse emphasized that they will fight already. Despite the strong strong emphasis of the CEO, two cryptocurrency exchanges have already decided to go crazy with XRP.

 

They made XRP crazy

Two smaller exchanges, CrossTower and Beaxy, removed the cryptocurrency from the list.

“CrossTower’s listing committee evaluates tokens in many dimensions,” said Kristin Boggiano, the head of the exchange that opened in June. One of the criteria is whether an asset is a security. Given the uncertainty regarding the state of XRP, CrossTower has decided to remove the XRP from the list. ” in the description.

Chicago-based Beaxy similarly stopped trading, but allows XRP to be withdrawn until further notice.

Legal status is controversial

SEC and Ripple Labs have been discussing the legal status of XRP for years. So the news of SEC charges against Ripple is not unexpected.

However, using the statement “Beaxy Exchange has an obligation to work primarily with regulatory compliance”, Beaxy’s head of operations Naeem Master emphasized that the exchange will be open to continuing support for the asset if a court finds that XRP is not a security.

While these two exchanges are smaller compared to Coinbase or Binance, their approach can provide insight into how larger trading platforms will look at XRP.

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