Coinbase, the largest U.S. cryptocurrency exchange, announced it will halt trading of the XRP digital currency, after the Securities and Exchange Commission last week deemed it a security
The SEC claims that cryptocurrency exchange Ripple Labs raised $1.3 billion through its sale of XRP without registering it or seeking an exemption for seven years.
If XRP is a security, traders must pay capital-gains taxes if they sell it at a profit.
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