Cryptocurrency market-maker B2C2 halted the trading of XRP with U.S.-based counterparties, effective this past Thursday, following the U.S. Securities and Exchange Commission’s lawsuit against Ripple Labs, according to a report in The Block.

• Non-U.S. clients can still trade the token but need to pre-fund all short trades, according to The Block report, which cited no sources
• B2C2's move comes as cryptocurrency exchanges Beaxy, Bitstamp, OSL and CrossTower have said they were halting XRP trading, as well as market-makers Galaxy Digital and Jump Trading, which both stopped XRP market-making.
• According to a lawsuit filed Tuesday, Ripple raised $1.3 billion over a seven-year period to retail investors through its sale of XRP on an ongoing basis.  If the SEC prevails, XRP could become a pariah token as platforms that continued to list the crypto may have to register as securities exchanges.

UPDATED 12/27/20 at UTC 0101: Adds that OSL and CrossTower have also suspended trading.

Read also: An SEC Victory in Ripple Case Would Render XRP ‘Untradeable,’ Market Pros Say