Simplex bars XRP transactions in wake of SEC's Ripple lawsuit
December 23, 2020, 5:17PM EST
1 min read
Crypto payment processor Simplex has begun blocking XRP transactions in the wake of the Securities and Exchange Commission's (SEC) lawsuit against the token's issuing company Ripple. Simplex's partners are also no longer accepting XRP transactions with the Simplex integration.
Simplex allows users to purchase cryptocurrency with credit cards on a variety of platforms using the Simplex integration, including Binance, Huobi, KuCoin and BitPay among others. Now, users will be unable to purchase XRP using the Simplex integration on those platforms. Simplex confirmed the decision in an email with The Block.
The SEC brought an enforcement action against XRP's issuer Ripple and two of its executives earlier this week, citing the XRP token as an unregistered security offering. Ripple CEO Brad Garlinghouse has said the firm intends to fight the suit.
Swash is one solution empowering people, businesses, and developers through an ecosystem of tools and services designed to unlock the latent value of data by pooling, securely sharing, and monetising its value
The Block Research was commissioned by Forte to create “Blockchain-Based Gaming: A Primer” which provides a comprehensive introduction to how blockchain technology is being employed in video gaming experiences.