<p><span style="font-weight: 400;">Genesis users woke up to an email today informing them that the firm had suspended XRP trading and lending.</span></p> <p>The email, which was verified by The Block, said that the <span style="font-weight: 400;">digital asset lender had made the move, effective December 29, as a precautionary measure. </span><span style="font-weight: 400;">“Our team is actively monitoring the evolving regulatory situation with XRP," the message read. </span></p> <p><span style="font-weight: 400;">According to the email, Genesis stopped allowing new spot purchases of XRP on December 29. Users who hold XRP will have until 5 pm on January 15 to sell it — the same day the company will fully suspend XRP trading. XRP withdrawals will be allowed, though Genesis won’t accept any new XRP deposits.</span></p> <p><span style="font-weight: 400;">Genesis will also no longer support loans in XRP. Open term loans in the digital currency will be called, and all XRP fixed-term loans maturing on or after February 1 will be called, according to the message. </span></p> <p><span style="font-weight: 400;">The firm's XRP derivative business will not change, according to the email. Genesis noted that since the situation with XRP is fluid, these stipulations are likely to change.</span></p> <p>Genesis declined to comment.</p>