Coinbase Facing Californian Lawsuit For Sale of XRP – December 31

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $28,948

Bitcoin price has once again hit a new all-time high today, a few hundred dollars higher than yesterday’s highs for a peak of $29,302.

Top-20 altcoins are looking stable once again, as Ethereum gains just over 1%, XRP bounces back 7%, and Polkadot continues to run with another 10% gain.

Top Stories for December 31, 2020 πŸ”₯

πŸ‘‰ Coinbase Facing Californian Lawsuit For Sale of XRP

Coinbase is facing a lawsuit in the state of California, for making a commission from the sale of XRP tokens – an alleged violation of the state’s unfair competition laws.

Thomas Sandoval, who filed the lawsuit, has claimed that Coinbase profited from the sale of XRP despite knowing that it would be classed as a security.

πŸ‘‰ Crypto Custody Firm Xapo To Leave US Market

Cryptocurrency custody firm Xapo is ending services for all users in the United States early next year, citing a change in their global business strategy.

As of March 31 next year, all US customer Xapo accounts will be closed. Users will be required to transfer their funds to external addresses.

Xapo has identified that their pivot to a digital banking service makes it too difficult to comply with US banking regulations.

πŸ‘‰ BitGo Settles Charges With US Treasury Over Services To Sanctioned Countries

BitGo, another cryptocurrency custodian and wallet firm, has settled with the US Treasury over charges revolving around serving customers in sanctioned countries.

Both the violation and settlement appear minor, with only $9,000 worth of transactions being in violation of sanctions laws, resulting in a settlement of just shy of $100,000.