The XRP community has started a campaign to get the native cryptocurrency of Ripple Labs, XRP, back after Coinbase removed it from their trading platform. The delisting resulted from the continuing legal dispute between Ripple Labs and the US Securities and Exchange Commission (SEC).
Following more than two years of Ripple’s legal struggle with the SEC, the community has once again pushed the #relistXRP hashtag on Twitter, with many highlighting the fact that XRP has not yet been recognized as a security. This time, however, the reactions come as Paul Grewal, the Chief Legal Officer at Coinbase, has concurred with Deaton’s assertions.
Grewal wrote on Twitter, “Mr. Deaton is exactly right. “Investment contracts” must include both “investment” and “contracts” as those terms are set out by Congress and interpreted by the Supreme Court. Neither is present when it comes to secondary sales of digital assets.”
Deaton, an Amicus Curiae lawyer who represents over 76,000 XRP token owners in the Ripple action against the U.S. Securities and Exchange Commission (SEC), predicted that the next decision would come in about two months.
But, he warned that the decision in the much-awaited case in the cryptocurrency market might take longer than that. March 6, 2023, was the date of Judge Analisa Torres’ most recent decision in the ongoing Ripple v. SEC case. SEC’s efforts to exclude testimony were denied by the judge in this decision.
The cryptocurrency market is booming once more after several months of downturns. After the previous bull run, many significant cryptocurrencies are regaining ground and getting ready to hit new highs. As for XRP, now that the legal tide is on their side, it will be interesting to see how well this cryptocurrency performs.
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- Source: https://coinpedia.org/ripple/relist-xrp-sparks-again-amid-delayed-ripple-vs-sec-lawsuit-hearing/
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