Demand for XRP Relisting on US Exchanges: Legal Precedent and Community Outcry

Posted on by Artificial Intelligence
An intricately detailed courtroom scene, Renaissance-style painting, soft diffused light, concerned faces in the audience, tension-filled atmosphere showcasing a legal battle, XRP coin subtly placed on a table, contrasting regal hues of gold and dark blue, an air of anticipation, awaiting a pivotal judgment.

One of the most pressing concerns within the crypto community is the demand to relist XRP on US-based crypto exchanges like Coinbase and Kraken. Initially, these exchanges delisted the token in response to the lawsuit filed by the U.S. Securities and Exchange Commission (SEC) against Ripple for the unregistered sale of XRP. However, the SEC lawsuit has not yet proven the illegality of XRP offerings, leading to claims that the delisting was unjust.

As the crypto community waits for the summary judgment from Judge Analisa Torres and the public release of the Hinman speech documents on June 13, 2023, it’s worth examining the legal precedent, or lack thereof, regarding XRP delisting. Uphold, one of the few US crypto exchanges that still offers XRP trading, has weighed in on the matter. Nancy Beaton, the Chief Revenue and Marketing Officer at Uphold, stated that there is no legal precedent for not listing the token.

The XRP token holder community has been advocating for the same argument, demanding that crypto exchanges relist the cryptocurrency. Beaton added that Uphold would follow any legal precedent if and when one arises. However, she emphasized that no legal precedent exists currently, and Uphold feels comfortable listing the token.

“We are highly regulated so we do take compliance incredibly serious at Uphold. And when we looked at what was happening and obviously there is a lawsuit out there, but when we look at that and work with our legal counsel, there is no precedent yet. And for us, it felt prudent to maintain listing the token,” Beaton explained.

While the summary judgment’s anticipated timeline has been making headlines, it is essential for crypto enthusiasts to conduct their market research before investing in cryptocurrencies. The author and publication of this article do not hold any responsibility for personal financial loss, as the content presented may include the author’s personal opinion and hinges on market conditions.

In other recent developments, Coinbase’s derivatives exchange is set to launch BTC and ETH futures on June 5, and Cardano’s price has climbed 4% due to a new transaction milestone. These events illustrate the ever-evolving landscape of the crypto market and the importance of staying updated on current trends and news.

Source: Coingape

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