◆ Domestic exchanges “Ripple, courtesy city… There is no plan to delist right now.”
Major domestic virtual asset exchanges such as Bithumb, Upbit, and Coinone are cautious about the’ripple crisis’. An official from Bithumb said, “Because the results of the Ripple lawsuit have not been confirmed in the US, we will make a decision with comprehensive attention.”
Upbit temporarily suspended Ripple withdrawal on the 26th, but this was due to an overhaul of the Ripple wallet system. Ripple withdrawal resumed from 6:30 pm on the same day. An official of Upbit spared, saying, “I have no words to tell you about whether to delist or not, because it has not been disclosed in advance.”
Coinone officials also said, “There is no plan to delist Ripple right away, and we plan to review it later.” He added, “99% of CoinOne subscribers are Koreans, and foreign traders are unable to trade in KRW.”
Corbitt also replied, “I know that Ripple is delisting (by foreign exchanges), but it is not at the stage of deciding until the delisting, and we will respond by looking at the situation in the future.
An official at Gopax said, “I haven’t reviewed it, but I’m approaching it conservatively, so I’d like to decide sooner or later.” An official from Hanbitco said, “There is no set direction. I will make a decision by looking at the overall trend.”
◆ Overseas exchange currency exchange
Cryptocurrency exchange Bitstamp announced that it will stop trading and depositing Ripple for all customers in the U.S. from January 8th next year. Bitstamp said that customers can withdraw Ripple even after the transaction is suspended, and that this does not apply to other countries.
B2C2, one of the largest market makers in the cryptocurrency industry, also stopped trading Ripple with U.S. clients from 3pm on the 24th (local time). B2C2 warned its US customers and customers that “there may be additional actions to be taken regarding the transaction of Ripple products.”
The Block analyzed that B2C2’s actions were due to trading companies such as Galaxy Digital and Jump Trading halting Ripple marketing. On the other hand, SBI Holdings, which announced earlier this month that it will acquire B2C2, is classified as a Ripple advocate. SBI Holdings participated in Ripple’s $200 million Series C.
If the SEC wins the lawsuit against Ripple, Ripple is classified as securities. In that case, U.S. exchanges that support Ripple trading must register as a stock exchange.
Coinbase, the largest exchange in the United States, is fiddling with Ripple delisted cards. Because they entered the procedure for public offering. AMB Crypto said, “Many people are surprised to see that Coinbase has always accepted rather than circumvented regulations, and has not yet stopped trading or delisted Ripple.”
CoinDesk said, “The most important exchange is Coinbase,” citing attorney Gabriel Shapiro’s remarks. It is not good for customers if the listing is delisted because the SEC accuses it.” Shapiro added, “I don’t think Ripple (Coinbase) will be delisted unless there are specific problems.”
◆ Domestic exchanges only notice and do not even warn of investment risk
After the SEC prosecution, Ripple’s price plummeted, but as the transaction volume exploded, there are even’money laundering suspicions’. Accordingly, there are voices that the minimum investor protection should be taken by each exchange, such as designating investment-provided stocks or restricting transactions.
Depending on the result of the lawsuit against the SEC, Ripple may be useless, but it is pointed out that the response of domestic exchanges is too easy. Domestic exchanges have not even announced the risk of investing in Ripple or even guided investment oil.
In the case of cryptocurrencies that have been severely hit by certain issues such as Ripple, the reality is that there is no proper way to protect investors. In the case of the stock market, there are sidecars and circuit breakers to alleviate market shocks. It is pointed out that the cryptocurrency market also needs measures to arouse investment risk.
Desfred Ye Jun-nyeong, manager, said, “Exchanges are aware of the SEC and may delist them depending on the results, but exchanges should come up with a policy that they supplement to protect investors.”
Some point out that uniform investor protection like the centralized stock market is not effective. Manager Ye Jun-nyeong added, “(Protection devices such as sidecars and circuit breakers) are meaningless only in domestic exchanges, and in order to implement them, it is meaningful globally.