One of the biggest headlines in the XRP community would be a relisting of the XRP token on Coinbase, the major US cryptocurrency exchange, if Ripple prevails in its ongoing legal battle with the US Securities and Exchange Commission (SEC).
Coinbase had stopped trading in XRP in January 2021, not long after the SEC filed its complaint, and has continued to do so despite vociferous objections from the XRP community.
Paul Grewal, Chief Legal Officer (CLO) at Coinbase, has recently addressed the matter in-depth and described the steps involved in a relisting of XRP. He also stated his confidence for a Ripple victory in yesterday’s discussion with presenter of Thinking Crypto Tony Edward, but he also emphasized that a relisting does not guarantee a win.
The US cryptocurrency exchange, according to Grewal, routinely assessed assets for listing, delisting, or suspending. He can also relate to the XRP community’s frustration.
XRP investors hope for victory
Grewal stated,
“I know that for many XRP investors it has been irritating that they have not been able to trade their assets on Coinbase while this SEC lawsuit has been pending.”
He added that the SEC has not stopped Coinbase from carefully monitoring the status of the litigation. Grewal, like the rest of the world, is eagerly anticipating a decision and has nothing but praise for Ripple’s legal team:
“I certainly paid attention to the fact that the defendants in this case have done a fantastic job of pushing the SEC and raising fundamental concerns about the SEC’s entire theory.”
Coinbase was also inspired by this to submit an amicus brief in support of a number of Ripple’s arguments. Grewal believes the team at the fintech startup, including Ripple CLO Stuart Alderoty, has done a “amazing job,” which is why he believes the court will rule in Ripple’s favor.
We’ll see that there are many flaws in the SEC theories. We will soon find out what the trial judges thought of the arguments in this case, in my opinion, because of the great preparation that has been done.
The Coinbase CLO did emphasize that, in his view, the Southern District Court of New York’s ruling would simply be the first stage of a prolonged process.
