US crypto exchange Bittrex is removing XRP trading pairs

U.S. crypto exchange Bittrex is removing XRP trading pairs on January 15, 2021, until further notice. 

The XRP pairs are tied to bitcoin, ether, Tether, and USD. That is, BTC-XRP, ETH-XRP, USDT-XRP, and USD-XRP.

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Bittrex did not cite a recent lawsuit filed by the U.S. Securities and Exchange Commission (SEC) against Ripple as a reason for the removal of the trading pairs. However, the exchange's removal policy lists "evolving regulatory standards and other compliance issues" as one of the factors to remove a market or delist a token.

Bittrex is the latest crypto exchange to announce the suspension of XRP trading. Coinbase, OKCoin, Bitstamp, and CrossTower have all announced similar actions. Binance.US and Kraken are the only two major U.S. exchanges that are yet to take action.

XRP has taken a beating since the SEC lawsuit. The digital asset is currently trading down at around 20 cents from nearly 60 cents a week ago.

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Yogita Khatri is a senior reporter at The Block, covering all things crypto. As one of the earliest team members, Yogita has played a pivotal role in breaking numerous stories, exclusives and scoops. With nearly 3,000 articles under her belt, Yogita holds the records as The Block's most-published and most-read author of all time. Prior to joining The Block, Yogita worked at crypto publication CoinDesk and The Economic Times, where she wrote on personal finance. To contact her, email: [email protected]. For her latest work, follow her on X @Yogita_Khatri5.