- Gatehub, a cryptocurrency getaway website would not delist XRP trading on its platform
- Cryptocurrency exchanges like Coinbase have halted XRP trading on their exchanges.
- XRP holders appeal to the Government to identify the token as a cryptocurrency .
In spite of the current litigation against Ripple, Gatehub, a cryptocurrency platform with its office in the United Kingdom has announced on January 12th, 2020 that the exchange would ensure the continuous buying and selling of XRP ( Ripple) on its platform. Gatehub utilizes the XRP ledger platform and is backed by the co-founder of Ripple Labs, Chris Larsen.
In a statement released by the exchange which is available on the website, Gatehub would continue XRP trading until there is sufficient proof that indicates XRP is a security or there is a warning from SEC to cease and desist from trading XRP on its exchange.
Gatehub’s statement on the investigation against XRP
Sequel to a thorough check of the ongoing lawsuit, Gatehub announced the reasons why it is backing Ripple and also expressed its belief in the potentials of XRP
Gatehub does not believe the allegations of XRP being “a security” as indicated by the”Howey” test in the US and regards XRP’s main use ca se as a digital currency with various uses. Also, XRP value is derived from its usage as a means of payment. Also, there is no personal record of any misconducts committed by the team behind Ripple Labs or its senior executives.
The response of the Ripple Labs Team and the XRP community to the SEC lawsuit
The XRP community has responded to the legal action by initiating a petition against the SEC. In the petition, the community wants the Federal Government to recognize XRP as a currency and also stop the investigation of XRP currency.
Similarly, Ripple Chief Executive Officer Brad Garlinghouse has affirmed that the Ripple Labs Team is going to fight SEC till the case is resolved while also indicating the possibility of the headquarters of Ripple Labs Team being transferred to the United Kingdom.