Given the U.S. Securities and Exchange Commission’s (SEC) recent lawsuit against Ripple Labs, Inc., eToro USA LLC (eToro) has decided to prohibit purchases of XRP on the eToro platform and to prohibit any conversion of XRP held in a customer’s eToro Wallet beginning on January 3 at 12pm Eastern Standard Time. Customers with existing XRP positions will have until January 24 at 12pm Eastern Standard Time to close such positions by entering sell orders on the eToro platform. eToro reserves the right to suspend any services at any time, including earlier than January 3 at 12pm Eastern Standard Time, if we determine that market, regulatory, or other conditions warrant such action.
For now, the above prohibitions affect only US customers and will not affect any customer’s ability to hold XRP in the eToro Wallet. All customers, including US customers, may continue to hold XRP in their eToro Wallet, and those customers still holding XRP on the eToro platform after January 24th can transfer their XRP to an eToro Wallet at any time. Additionally, customers holding XRP in the eToro Wallet may also transfer their XRP to any XRP wallet address unaffiliated with eToro at any time.
We will continue to monitor this situation for new developments and, should the need arise, share additional information regarding XRP through both this blog and the eToro US Twitter account.