Global trading platform and cryptocurrency exchange PayBito suspends its XRP trading feature temporarily in light of the latest action of securities and exchange commission against Ripple Labs, Inc. Because of the lawsuit filed by the US securities and exchange commission, the organization has chosen to halt its XRP trading pairs on PayBito.

Trading Suspension of XRP

The suspension of XRP trading of the cryptocurrency exchange does not happen to be affecting the users’ access to their XRP wallets. Their wallets will still be available thereby helping them to send out XRP to other exchanges. PayBito is going to monitor legal developments linked with XRP and let users know accordingly while more information is unveiled.

From the CEO’s Perspective

According to the CEO of PayBito, PayBito is committed when it comes to being the most trustworthy cryptocurrency trading platform, thereby following a mission of developing an open financial system for various users throughout the world. PayBito’s decision to suspend the XRP trading is not likely to affect the user’s access to factors like compliance and security hence facilitating them to transfer XRP’s from their XRP wallets to different exchanges.

Also Read: PayBito Experiences Record Sign-ups After Bitcoin’s Value Surpasses $40,000

More About PayBito and XRP Trading Halt

Other than PayBito, various other high-profile Crypto exchanges also recently disclosed their decisions to halt XRP trading because of the announcement of the lawsuit of SEC. Lately, PayBito tied up with an Asian enterprise to help them with their white-label solutions. Their white label infrastructure is expected to help the Asian enterprise in facilitating most of the best exchange software, hence experiencing a scalable expanse of working exchanges, thereby developing their brand and business. Their decision to give a green signal to the XRP trading suspension is wholly subject to lawful approval and the starting of XRP trading activities remains under wraps concerning the moment. It is temporarily suspended and PayBito plans to withdrawal from XRP trading halt as soon as things get normal. It strictly happens to be based on specific jurisdictions at this time.

Source: https://finance.yahoo.com/finance/news/paybito-halts-trading-xrp-light-083000182.html