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Availability of Ripple (XRP) on iTrustCapital
Dear XRP Community,
We have heard your calls to #RelistXRP and understand your frustration. Like many in the cryptocurrency industry, we are actively monitoring developments in the ongoing Security Exchange Commission’s (“SEC”) lawsuit against Ripple Labs, Inc. (“Ripple”). Unfortunately, until there is regulatory clarity in the U.S. regarding the security status of the token, XRP, we do not anticipate supporting transactions of XRP on our platform.
To best explain, iTrustCapital is not itself an exchange, but rather a self-directed IRA software-based platform. We partner with liquidity providers, which in turn, rely on cryptocurrency exchanges to provide liquidity for all digital assets on our platform.
Currently, the overwhelming majority of U.S. cryptocurrency exchanges have suspended trading of XRP. Therefore, we can’t provide any specific time frame, if any, regarding the support of XRP transactions on our platform. As a company, our goal is to provide the best client experience while also ensuring compliance with all applicable IRS and SEC laws, rules, and regulations.
At present, clients may continue to hold their existing XRP in our tax-sheltered IRA accounts. In addition, we also support client transfer deposits and withdrawals or in-kind distributions of their existing XRP holdings. For additional information, you may also reference our previous company announcements.
Sincerely, Leadership at iTrustCapital
This article is for information purposes only. It does not constitute investment advice in any way. It does not constitute an offer to sell or a solicitation of an offer to buy or sell any cryptocurrency or security or to participate in any investment strategy.
iTrustCapital is a cryptocurrency IRA software platform. It is not an exchange, funding portal, custodian, trust company, licensed broker, dealer, broker-dealer, investment advisor, investment manager, or adviser in the United States or elsewhere. iTrustCapital is not affiliated with and does not endorse any particular cryptocurrency, precious metal, or investment strategy.
Cryptocurrencies are a speculative investment with risk of loss. Precious metals are a speculative investment with risk of loss. Cryptocurrency is not legal tender backed by the United States government, nor is it subject to Federal Deposit Insurance Corporation (“FDIC”) insurance or protections. Clients do not receive a choice of custody partner. The self-directed purchase and sale of cryptocurrency through a cryptocurrency IRA have not been endorsed by the IRS or any regulatory agency. Historical performance is no guarantee of future results.
Some taxes and conditions may apply depending on the type of IRA account. Investors assume the risk of all purchase and sale decisions. iTrustCapital makes no guarantee or representation regarding investors’ ability to profit from any transaction or the tax implications of any transaction. iTrustCapital does not provide legal, investment or tax advice. Consult a qualified legal, investment, or tax professional.
iTrustCapital makes no representation or warranty as to the accuracy or completeness of this information and shall not have any liability for any representations (expressed or implied) or omissions from the information contained herein. iTrustCapital disclaims any and all liability to any party for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising directly or indirectly from any use of this information, which is provided as is, without warranties.
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