Simplex bars XRP transactions in wake of SEC's Ripple lawsuit

Crypto payment processor Simplex has begun blocking XRP transactions in the wake of the Securities and Exchange Commission's (SEC) lawsuit against the token's issuing company Ripple. Simplex's partners are also no longer accepting XRP transactions with the Simplex integration.


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Simplex allows users to purchase cryptocurrency with credit cards on a variety of platforms using the Simplex integration, including Binance, Huobi, KuCoin and BitPay among others. Now, users will be unable to purchase XRP using the Simplex integration on those platforms. Simplex confirmed the decision in an email with The Block.

The SEC brought an enforcement action against XRP's issuer Ripple and two of its executives earlier this week, citing the XRP token as an unregistered security offering. Ripple CEO Brad Garlinghouse has said the firm intends to fight the suit.  


About Author

Aislinn Keely is a reporter on The Block's policy team holding down the legal beat. She covers court decisions, bankruptcies, regulatory actions and other key moments in the legal sphere, putting them in context for the wider crypto industry. Before The Block, she lent her voice to the NPR affiliate WFUV and helmed Fordham University's student newspaper. Send tips or thoughts on all things policy and legal to or follow her on Twitter for updates @AislinnKeely.