Coinbase to halt traditional of XRP after SEC lawsuit

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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