2 years ago
As the SEC vs. Ripple ruling looms, Paul Grewal said it is imaginable Coinbase volition relist the XRP token.
Speaking to Tony Edward — big of the Thinking Crypto YouTube transmission — Grewal said determination are respective ineligible uncertainties to springiness a definitive reply connected relisting.
The U.S. securities regulator alleged Ripple had sold unregistered securities (in the XRP token) to the tune of $1.3 billion. A lawsuit was filed again the company, Chairman Chris Larsen, and CEO Brad Garlinghouse successful December 2020.
Will Coinbase relist XRP?
On Jan. 19, 2021, Coinbase delisted XRP successful effect to the SEC’s suit against Ripple. Other crypto entities besides followed suit, including Bitwise and Bitstamp, among others.
Coinbase said the delisting determination was informed by its Digital Assets Framework argumentation — which assesses factors specified arsenic securities compliance.
When quizzed astir the delisting, Grewal said it is modular institution argumentation to regularly measure assets successful enactment with learning caller information. Despite the somewhat diplomatic response, helium acknowledged that the concern has been a root of vexation for immoderate XRP holders.
Commenting connected the authorities of the litigation, Grewal said Ripple’s defence squad has done good successful challenging the SEC’s argument. He added that helium became truthful convinced by those efforts it was information capable for Coinbase to record its ain little supporting Ripple’s case.
“A masterful occupation of pushing the SEC and raising superior questions astir the SEC’s full mentation that undergirds that case.”
When asked if Coinbase would relist XRP, Grewal said, “it’s possible,” However, that depends connected the result of the litigation; specifically the ground for the ruling — the judge’s ineligible reasoning, an appraisal of whether an appeals tribunal would enactment relisting,
“A batch is going to beryllium connected the particulars of however that tribunal rules. I cognize that’s not going to beryllium terribly satisfying to some, but we bash a work arsenic a publically listed institution to tread carefully…”
How Grewal sees the SEC vs. Ripple suit playing out
The SEC vs. Ripple lawsuit has enactment the spotlight connected inconsistencies successful the agency’s policies and attack to regulating.
For example, Ripple’s just announcement defence maintained that the XRP token is akin to Bitcoin and Ethereum, and without notification to the contrary, the defendants had nary crushed to judge they breached securities laws.
In different words, if BTC and ETH are not securities, and determination is nary announcement of XRP being immoderate different, past it follows the suspect did not knowingly breach securities laws
The station Coinbase’s Grewal hails Ripple’s defence efforts: XRP relisting possible appeared archetypal connected CryptoSlate.
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