Growing Number of Exchanges Reopen XRP Trading After Mixed Ruling
A United States federal judge recently delivered a mixed ruling in the ongoing legal battle between the Securities and Exchange Commission (SEC) and Ripple Labs. As a result, several cryptocurrency exchanges have decided to resume trading in XRP, despite the uncertainty surrounding its legal status.
- Crypto.com and Kraken Pro are among the exchanges that have relisted XRP on their platforms.
- The Gemini exchange is considering relisting XRP for spot and derivatives trading.
- Coinbase, the largest crypto exchange in the U.S., has announced plans to re-enable XRP trading.
While the ruling clarified that some XRP sales did not meet the definition of a securities offering, it also deemed Ripple’s sales to institutional buyers as unlawful securities sales. However, many exchanges appear confident in their ability to withstand any legal blowback based on the current ruling.
Industry experts have differing opinions on the ruling’s impact. Some believe it offers clarity and support to other firms involved in legal battles with the SEC over the classification of their products. Others see the reopening of XRP trading as a potential opportunity for exchanges to profit from volatility and hype.
Hot Take
The reopening of XRP trading by several cryptocurrency exchanges following the mixed ruling demonstrates the industry’s willingness to take risks and capitalize on opportunities. While the legal battle between the SEC and Ripple is far from over, exchanges seem optimistic about the potential returns outweighing the risks of lawsuits and fines. This move also signals a broader trend of exchanges challenging regulatory enforcement and seeking clarity on the classification of digital assets.
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