Coinbase’s Chief Legal Officer Paul Grewal appeared in the latest episode of Real Vision’s Crypto Daily Briefing show hosted by Ash Bennington, where he addressed many issues including Coinbase’s fight with SEC and the relisting of XRP on the largest U.S.-based crypto exchange.
Recall that Coinbase delisted and ceased trading for XRP in 2021 shortly after the U.S. SEC filed a lawsuit against Ripple in December 2020, claiming that XRP —which was sold in a token distribution event by the cross-border payment firm — is an unregistered security.
Since then, the XRP community have been calling for the relisting of the sixth-largest cryptoasset such that the hashtag “relistXRP” went viral on the blue bird app sometime this year. Regardless, the second-largest crypto exchange in the world by trading volume is yet to support XRP, citing regulatory problems.
But in the latest interview with Bennington, Grewal stated the measures Coinbase would take before it would consider supporting XRP again. According to him, Coinbase would only relist XRP if it meets these conditions.
In particular, the Chief Legal Officer said Coinbase would still carry out a thorough assessment of XRP even though the asset is being classified as a non-security by the judge presiding over the Ripple-SEC lawsuit. “However the judge rules, of course, we (Coinbase) are going to assess her ruling and any follow-on appeals and very much weigh the court’s determination and any decision we might make about relisting XRP,” he remarked.
This he said in response to a question raised by a top influencer in the XRP community Sentosumosaba which went thus: “If the court finds secondary market sales of XRP are not securities, how would that affect the listing of XRP on Coinbase?”
Coinbase Strikes Back: Chief Legal Officer Explains Its SEC Fight. Thank you @AshBennington for taking the question regarding the relisting of #XRP. https://t.co/3N5gPToz6l via @YouTube
— 🌸Crypto Eri 220k+ Followers (Beware of Imposters) (@sentosumosaba) May 3, 2023
As implied by Grewal, Coinbase would not automatically relist XRP even though the longstanding crypto lawsuit between the Gary Gensler-led SEC and Ripple Labs ends in favour of XRP. He added that the top exchange is eager to hear Judge Analisa Torres’ final verdict.
While the exact date for the case conclusion remains unknown, Ripple CEO Brad Garlinghouse and pro-XRP lawyer John Deaton expect the summary judgment this year. More so, the entire XRP community is optimistic the SEC would lose. This massive positive sentiment is part of what fueled the pump in XRP price in March.
Follow us on Twitter, Facebook, Telegram, and Google News
