Coinbase Resumes XRP Trading in New York

IconCryptoNewsTerminal Staff23 May, 2024

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Coinbase Resumes XRP Trading in New York

Coinbase Chief Legal Officer (CLO) Paul Grewal made an announcement on Twitter, stating that XRP trading is now available to New York residents through Coinbase. This marks a significant development for the cryptocurrency exchange and the XRP community as it expands access to the digital asset in a major financial hub. The resumption of XRP trading in New York comes after a period of uncertainty following the legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC). In 2020, the SEC filed a lawsuit against Ripple, alleging that the company had conducted an unregistered securities offering through the sale of XRP. The case is ongoing, with both parties recently submitting motions for summary judgment. Despite the ongoing legal proceedings, Coinbase's decision to resume XRP trading in New York signals confidence in the cryptocurrency's future. The exchange has a history of supporting digital assets that it believes have strong potential, and its decision to relist XRP is a testament to the asset's staying power.

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