After Ripple Labs celebrates its victory in federal court against the SEC, XRP returns to domestic crypto exchanges”

After Ripple Labs celebrates its victory in federal court against the SEC, XRP returns to domestic crypto exchanges”

Ripple returns to crypto exchanges after legal victory against the SEC

After Ripple Labs won an important victory in federal court against the US Securities and Exchange Commission (SEC), the company's proprietary cryptocurrency XRP is returning to domestic crypto exchanges.

Crypto exchange Gemini said in a tweet yesterday, July 13, that it would be exploring reintroducing XRP for spot and derivatives trading. The reason for this is the court ruling that determined that XRP is not a security within the meaning of the SEC for the time being. Coinbase, one of the largest crypto exchanges in the US, also announced that it would reactivate XRP trading after about two years.

However, crypto trading platforms in the US are cautioned as the SEC recently sued Binance and Coinbase for unregistered trading of securities. However, the legal precedent that Ripple has now created could give crypto exchanges important breathing room, and not just with regard to trading in XRP.

Sheila Warren, CEO of the Crypto Council for Innovation, commented on the Ripple ruling as “a big deal.” She added: "It was clear from the start that this case would have implications for the entire industry. Because this decision fundamentally undermines the SEC's argument that it has authority over cryptocurrencies and that regulatory clarity already exists."

Other exchanges that delisted XRP in 2020 and 2021, such as OKX, also praised the court decision, but have not yet announced whether they will resume trading in the token. Crypto firm iTrustCapital even claims to be the first to bring back XRP after two years. Crypto exchange Kraken initially posted an ambiguous message following the court ruling, before later officially announcing that it would also reintroduce the Ripple cryptocurrency.

In December 2020, the SEC filed charges against Ripple, CEO Brad Garlinghouse and co-founder Chris Larsen, leading to a massive exodus of XRP listings on American crypto exchanges. Only Uphold, a crypto payment processor and exchange operator, kept the token trading and announced that it would not make a decision regarding XRP until the end of the legal proceedings.

Uphold is now pleased with the court ruling and states that they are proud to have supported the XRP community.