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Bitcoin proved it could change how people think. But will the new system it enables be “better” or just “a system that better serves me?”

OKEx launches real-time settlement for the trading of derivatives on its platform allowing users to make withdrawals at any time.

The city council of Lebrija has created a virtual currency ‘Elio’ that can only be used for payments made to small and medium businesses, according to a report by Diario de Sevilla. Read more: Spain’s Second-Largest Bank Will Soon Launch Crypto Services: Sources

Quick Take

• Recapping the best of The Interchange in 2020

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The move is viewed by some as a sign the Indian government is warming up to cryptocurrencies.

Voyager reassured its customers that no funds or personal information were compromised but warned it will take time to get its app back online again.

Bitcoin miner revenue measured by terahash per second (TH/s) has hit a new record high this year, according to data tracked by The Block Research.

The latest data shows that each bitcoin miner is making $0.19 daily per TH/s of computing power — the highest amount this year. The last highest figure this year was $0.17, in February, when bitcoin was trading at around $10,500 prior to the halving event. The Block’s data uses a 7-day moving average for mining revenue per TH/s.

In terms of total dollar revenue, bitcoin miners made $24.27 million just yesterday, out of which $21.59 million came from block subsidies and the rest from transaction fees.

While the revenue is increasing, bitcoin mining difficulty, an indicator of competition among bitcoin miners, has been steady for about a month. The current difficulty is 18.60 T (trillion) compared to its all-time high of around 20 T recorded in October.

© 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.

Coinbase announced Monday that it will suspend trading in XRP globally next month, nearly a week after the U.S. Securities and Exchange Commission hit Ripple with a lawsuit.

The firm announced the move in a blog post shared with The Block. 

Coinbase said that XRP trading will transition to limit-only beginning immediately on December 28 and will suspend fully on January 19 at 10 AM Pacific. The suspension will not affect the firm’s clients’ ability to access wallets with XRP. 

“Further, customers will remain eligible for the previously announced Spark airdrop(subject to approval in certain jurisdictions), and we will continue to support XRP on Coinbase Custody and Coinbase Wallet,” the blog post reads.

In a complaint filed last week, the SEC alleged that Ripple co-founders Brad Garlinghouse and Chris Larsen have raised more than $1.3 billion via an ongoing, unregistered securities sale of XRP. The regulator views XRP as a security.

“Ripple engaged in this illegal securities offering from 2013 to the present, even though Ripple received legal advice as early as 2012 that under certain circumstances XRP could be considered an ‘investment contract’ and therefore a security under the federal securities laws,” the SEC said in the complaint.

The move is striking as XRP makes up a significant chunk of Coinbase’s trading volumes, as noted by The Block’s Larry Cermak. 

Coinbase is one of the five crypto exchanges that are part of the Crypto Rating Council (CRC), an industry group that aimed to “rate” various digital assets according their security-like characteristics. In August 2019, the CRC gave XRP a rank of  “4,” meaning it has characteristics consistent with securities.

Fellow CRC members OkCoin and CrossTower have already delisted XRP. Key crypto market liquidity providers including Galaxy Digital and Jump Trading have also stopped trading the asset. 

© 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.

Coinbase said it will suspend trading of XRP, the cryptocurrency at the heart of an SEC lawsuit against Ripple Labs.

Quick Take

• Christmas was busy for crypto trading desks.
• B2C2 was “extremely busy,” while Wintermute clocked in $1 billion in trading volumes.
• Traders expect December’s activity to continue into January.

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