Major cryptocurrency exchanges have announced plans to resume trading in the XRP token for US users after the decision of the Court of the Southern District of New York in the case SEC against Ripple.
On July 13, Coinbase announced the relisting of the asset. This was confirmed by the general counsel of the platform, Paul Grewal.
Gemini said it is looking into listing XRP for both spot and derivatives trading.
The return of the token from Ripple to the listing was announced by the Kraken exchange. According to the press release, trading in the asset is available to US users in all fiat pairs, BTC, ETH and USDT.
Crypto.com representatives have indicated that US customers can trade XRP on the cryptocurrency platform app.
“Buy XRP at real value in USD, EUR, Pounds and more than 20 fiat currencies,” the post reads.
On July 14, Binance announced the opening of trading for the XRP/USDT pair on the American exchange.
A similar step was taken at Bitstamp. According to the announcement, operations with the token are available in the US.
The decision to delist the token was made by a number of large exchanges after the SEC filed a lawsuit against Ripple in 2020. The agency accused the company of selling unregistered securities in the form of XRP.
Then Coinbase, Galaxy Digital, Bitstamp, Crypto.com and B2C2 announced the closure of asset trading for US residents. Bitwise Asset Management has removed the token from its flagship Bitwise 10 Crypto Index Fund.
In January 2021, Kraken stopped US customers from trading XRP. The head of the regulated platform Bakkt, Gavin Michael, ruled out adding XRP to new products, and Grayscale Investments promised to liquidate the Ripple token-based investment trust.
On July 13, 2023, Judge Analisa Torres ruled in favor of the Californian blockchain company. In her opinion, programmatic sales and other distributions of the XRP token from Ripple do not constitute an offer and sale of investment contracts.
However, institutional sales of XRP violated US securities laws.
Recall that against this background, assets from the top 10 by capitalization moved into the “green zone”. The price of Ethereum has broken through the $2,000 level.
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