Coinbase Considers Relisting XRP Following SEC vs. Ripple Verdict
As the legal battle between the Securities and Exchange Commission (SEC) and Ripple nears a verdict, there is speculation that Coinbase, one of the largest cryptocurrency exchanges, may relist XRP, Ripple’s digital asset. However, the decision is not straightforward, according to Paul Grewal, Coinbase’s Chief Legal Officer.
In an interview with the “Thinking Crypto” podcast, Grewal stated that there are legal uncertainties surrounding the potential relisting of XRP and that a lot will depend on the particulars of the court ruling. He emphasized that Coinbase has a responsibility as a publicly listed company to tread carefully in this area and assess any token that’s a subject of federal court litigation.
On @ThinkingCrypto1, Coinbase legal officer @iampaulgrewal lays out the legal steps for possible restart of #XRP trading on their exchange 👇🏻 pic.twitter.com/UwVt3aKeCs
— CryptoLaw (@CryptoLawUS) March 16, 2023
Grewal’s comments have sparked mixed reactions from the XRP community. Some enthusiasts, such as Yassin Mobarak, interpreted his comments as a positive sign that Coinbase may relist XRP if the court ruling provides clarity. However, others, like Bill Morgan, a lawyer and crypto enthusiast, are less optimistic, citing Grewal’s comments about the court’s decision.
The SEC’s lawsuit against Ripple alleges that the company sold unregistered securities, namely the XRP token, worth $1.3 billion. Coinbase suspended XRP trading shortly after the lawsuit was filed in January 2021. Since then, the XRP community has been pushing for XRP to be relisted by exchanges, including Coinbase.
The outcome of the Ripple lawsuit will undoubtedly have a significant impact on the future of XRP and the broader cryptocurrency market. If Ripple wins, it could set a precedent for other digital assets facing similar legal challenges. Conversely, if the SEC wins, it could lead to more scrutiny of cryptocurrencies and potential delistings by exchanges.
For now, it remains uncertain whether Coinbase will relist XRP, and it is likely to depend on the specifics of the court ruling. As Grewal emphasized, Coinbase will need to tread carefully in this area, given its responsibilities as a publicly listed company.
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