Will Coinbase Relist XRP?2 min read
Not only the investors remain clueless with the question about Ripple. Crypto exchanges also had to draw their conclusions from the legal dispute. Coinbase announced at the end of 2020 that to suspend trading of XRP in the following year. To date, it is not possible for investors to purchase the cryptocurrency via the exchange. Coinbase cited the SEC’s indictment of Ripple as the reason for this.
Now expressed Paul Grewal, Chief Legal Officer (CLO) at Coinbase, on a possible re-listing of XRP in view of the upcoming judgment. In the Thinking Crypto podcast, Grewal cautioned that this would depend on many factors, including “the basis of the judgment, the judge’s legal reasoning,” and Coinbase’s own assessment of “whether an appellate court would uphold this decision or not.” ”.
Grewal: “I know this won’t be very satisfying for some, but as a public company we have a responsibility to exercise caution in this area and in relation to any token that is the subject of litigation in federal court,” he says. Nevertheless, he is just as excited about the verdict as the rest of the community.
Ripple: The decisive verdict for the crypto sector
Ripple has been in dispute with the US Securities and Exchange Commission (SEC) before the US Supreme Court for three years. The accusation: The Altcoin XRP is – unlike bitcoin – a security that Ripple illegally issued. But the company behind XRP is fighting back, accusing the authority of “embarrassing behavior” and fraud. Meanwhile, the crypto scene is awaiting the verdict, which could be announced as early as next month.
The future of the crypto industry worldwide stands or falls with the decision: Should Ripple lose the process, other altcoins could face the same fate. And thus a large part of the industry will be deprived of its existence.
According to Grewal, the review process for a possible re-listing of XRP at Coinbase will be initiated as soon as possible as soon as a positive verdict has been made. Then one can check whether the decision to suspend XRP trading pairs can be reconsidered. However, this is not certain yet.