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Companies are being asked to transfer their bitcoins to other places, such as Coinbase.

“I would expect to see bitcoin charge past $30,000 as we enter the new year,” said one market observer.

A new lawsuit in California federal court alleges that Coinbase violated the state’s unfair competition laws by making a commission from the sale of Ripple’s XRP. Ripple was recently sued by the Securities and Exchange Commission (SEC) for allegedly issuing XRP as an unregistered securities offering.

The new class-action suit was filed by Thomas Sandoval, who claims that Coinbase profited from the sale of XRP while knowing that it was a security. Coinbase should have known it would be considered a security, Sandoval argues, because it was aware all nodes were under Ripple’s control.

The case alleges Coinbase broke California’s unfair competition law by profiting on the sale of XRP while having sufficient knowledge to know the asset would be considered a security. The law protects against false advertising and fraudulent or deceptive business practices. 

Coinbase is among a number of exchanges that have said they will delist XRP in the wake of the SEC’s suit against the asset’s issuer.

Coinbase did not respond to requests for comment in time for publication. 

© 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Serbia will now permit the issuance and trading of digital assets under a law that went into effect this week.

US crypto exchange Binance.US will remove support for XRP on the morning of Wednesday, January 13, according to an announcement Wednesday.

XRP trading and deposits will cease at that point. Withdrawals are permitted after January 13 but will require a deposit tag/memo stipulated on the Binance.US website. 

The move comes a little over a week after the Securities and Exchange Commission filed charges against Ripple alleging that the firm and two of its executives sold unregistered securities.

The Binance.US plan to remove XRP follows similar moves from fellow exchanges Coinbase, Bittrex, OKCoin, Bitstamp, and CrossTower.

© 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Proof-of-stake is a method of maintaining integrity in a blockchain, ensuring users of a cryptocurrency can’t mint coins they didn’t earn.

Another day, another all-time high in bitcoin as the cryptocurrency changed hands as high as $28,871.78.

The U.S. Treasury’s decision to impose know-your-customer rules to private cryptocurrency wallets is flawed in more ways than one.

Bitcoin custodian firm BitGo agreed to pay $93,830 in a settlement pact with the U.S. Treasury over 183 “apparent violations” of multiple sanctions programs.

Cryptocurrency exchange Binance announced that embattled token XRP will be delisted from Binance.US on Jan. 13, 2021, becoming the latest exchange to do so. The story is developing and will be updated.