A Canadian-based Bitcoin exchange has delisted the popular altcoin Ripple (XRP), leaving crypto investors less trading options in the country. As of January 13, 2022, Canadian cryptocurrency exchange Bitbuy announced that it will delist XRP. Another blow has been dealt to XRP, which is in trouble with the SEC lawsuit. At the time of writing, the XRP price was down over 10% to trade at $0.7667. Detail cryptocoin.com‘in.
XRP being delisted from Bitcoin exchange
This means that in January, either the XRP/CAD or XRP/BTC markets will be removed from the trading platform. Bitbuy has warned users to withdraw remaining tokens from the exchange before the delisting takes place. The exchange reports that XRP will be replaced by other unnamed cryptocurrencies. In its latest announcement, the exchange states that it must follow the guidelines of the OSC from the Ontario Securities Commission in deciding whether a particular cryptocurrency can be classified as a security. Bitbuy says international regulators should take their views into account. The exchange also states that XRP may be relisted on the platform when regulatory environment changes: “We will continue to monitor the status of XRP and act accordingly if things change.”
Earlier this month, Newton, one of Canada’s leading cryptocurrency exchanges, also announced that it would delist Ripple, along with the largest stablecoin, Tether. The landmark lawsuit of the US Securities and Exchange Commission against Ripple was filed nearly a year ago. It is not yet clear exactly how the case will progress. In January, a number of US-based exchanges, including Coinbase, Kraken, Binance.US, and other trading platforms took action to halt XRP transactions amid regulatory uncertainty surrounding the cryptocurrency.
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