Given the recent SEC filing against Ripple Labs Inc., we are halting XRP trading for U.S. residents no later than January 29, 2021 at 5pm PT (January 30, 2021 at 1:00 UTC). We may begin implementing this process at any time on January 29, 2021, so all U.S. clients are strongly encouraged to resolve their positions prior to that day.

U.S. residents with open XRP spot positions on margin should satisfy their margin obligations by January 28, 2021 at 11:59pm PT or their positions will be liquidated in accordance with our Terms.

Our clients residing in the U.S. will still be able to deposit, hold, and withdraw XRP with Kraken.

Clients residing in other countries are not affected. XRP markets will continue to operate, uninterrupted, for clients outside the United States.

To clarify how this impacts our clients, we’ve compiled a list of frequently asked questions, which we will periodically update:

What does this mean for me?

After January 29, 2021, U.S. residents will not be able to trade XRP. We intend to cancel open XRP orders and liquidate open XRP positions for U.S. residents on January 29, 2021. U.S. residents are strongly encouraged to resolve their positions prior to that day.

Will I still be able to deposit, hold, and withdraw XRP?

You will be able to deposit, hold, and withdraw your XRP at Kraken after January 29. If that position changes in the future, we will make a public announcement.

How long will these changes last?

We are monitoring the situation regarding the SEC’s filing and will adapt according to any new developments.

Will this impact Spark token distribution?

This does not affect our plans regarding the Spark token airdrop.

Thank you for trusting Kraken. We will closely follow the unfolding situation and continue to adapt accordingly.