Kraken and Crypto.com resume XRP trading
Kraken and Crypto.com resume XRP trading
Crypto exchanges have resumed trading of the XRP token following a controversial court ruling in a case between the SEC and Ripple.
On Friday, July 14, Crypto.com and Kraken Pro reported that XRP was once again listed on their trading platforms.
Recall that earlier, most crypto exchanges in the United States removed XRP from their available assets due to the fact that the Securities and Exchange Commission (SEC) filed a lawsuit against Ripple Labs, accusing it of illegal activity and a lack of authorization to issue the token. However, the ambiguous decision of the federal court experts was perceived as a victory not only for Ripple, but also for the crypto sector as a whole, Cryptonews reported.
The Crypto.com exchange published a notice saying, "Buy XRP at true cost with USD, EUR, GBP, and 20+ fiat currencies."
Also, Kraken Pro stated that XRP is "back in full-trading mode."
Cryptocurrency exchange Gemini said it was already considering relisting XRP. "Given today's ruling that the sale of XRP on exchanges is not a security, Gemini is exploring the listing of XRP for both spot and derivatives trading," Gemini noted on its Twitter page.
Coinbase, the largest U.S. crypto exchange, said on July 13 that it would resume trading XRP. But it's worth noting that there's still some uncertainty about XRP's status. The court's decision can be appealed and referred for further review.
While Judge Torres issued her ruling that XRP sales did not fully meet the definition of a securities offering, she also stated that Ripple's sales to institutional buyers were illegal sales of securities.
"It seems that the wording was clear enough for [many exchanges], or at least that their legal departments feel like they can withstand any legal blowback based on the current ruling," said Justin d'Anethan, Head of APAC Business Development at crypto market maker Keyrock.
"Admittedly, in the wake of many exchanges’ woes, the listing and trading of a token that was characterized as 'not a security' seem reasonable'," he continued.
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