The top United States-based crypto exchange Coinbase suspended XRP trading in December 2020 following the XRP lawsuit filed against Ripple by the SEC.
Since then, XRP holders and proponents including LBRYcom have been calling for the resumption of XRP trading on the centralized exchange. Notably, exchanges such as Uphold and Newton relisted XRP amid the ongoing lawsuit.
The wait could finally be over as Paul Grewal, the Chief Legal Officer at Coinbase affirmed the possibility of XRP becoming tradable on the platform once again. He further outlined the legal steps that would lead to a possible restart of XRP trading on Coinbase.
Grewal made these positive revelations during an interview session with Tony Edward in the latest edition of the Thinking Crypto show.
Edward presented a scenario where the judge could rule the XRP lawsuit in favor of the San Francisco-based crypto solutions company.
Accordingly, he asked Grewal whether Coinbase would relist or resume trading for XRP if the case moves in the direction of Ripple and the 6th-largest cryptocurrency.
Responding to the question, the Coinbase CLO noted that it’s possible for XRP trading to resume if Ripple wins the lawsuit, stating the key conditions.
“It’s possible. It will all depend upon the basis of the ruling, the judge’s legal reasoning, our assessment of whether or not the Appeal Court would affirm such a decision.”
“A lot is going to depend on the particulars of how that court rules. I know that’s not going to be terribly satisfying to some, but we do have a responsibility as a publicly listed company to tread carefully in this area and with respect to any token that’s a subject of federal court litigation.”
On @ThinkingCrypto1, Coinbase legal officer @iampaulgrewal lays out the legal steps for possible restart of #XRP trading on their exchange 👇🏻 pic.twitter.com/UwVt3aKeCs
— CryptoLaw (@CryptoLawUS) March 16, 2023
From the foregoing, Coinbase users may have to wait longer as the end of the Ripple-SEC remains uncertain. Recall that in a previous report, Ripple general counsel Stuart Alderoty hinted that the XRP lawsuit could get to the Supreme Court level, indicating that it could take months before the case finally dies.
However, Ripple CEO Brad Garlinghouse predicted the judge’s summary judgment to be later this year. In an event where the summary judgment favors the SEC, Alderoty outlined Ripple’s next steps.
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