Major cryptocurrency exchanges Coinbase and Kraken announced the re-listing of XRP following a pivotal court ruling that partially favored Ripple Labs in its legal battle with the U.S. Securities and Exchange Commission (SEC). The token surged 37% post-ruling, reflecting renewed market confidence.
👉 Why XRP's re-listing matters for crypto regulation
Key Developments
- Coinbase resumed XRP trading on July 13, 2023, cautioning users to avoid cross-network transfers.
- Kraken followed suit shortly after, with Binance.US joining on July 14.
- Judge Analisa Torres ruled that XRP sales on public exchanges did not violate securities laws, though institutional sales remained under scrutiny.
Market and Community Reaction
Twitter erupted with celebratory posts, including from Gemini co-founder Tyler Winklevoss, who called the ruling a rebuke to the SEC’s overreach. Meanwhile, the SEC emphasized its partial victory, vowing to continue litigation.
SEC Statement: "The court affirmed that XRP constituted an unregistered security in institutional sales, upholding the Howey Test’s applicability to crypto."
Implications of the Ruling
- Regulatory Clarity: The decision sets a precedent for differentiating public exchange sales from direct institutional offerings.
- Market Confidence: XRP’s rapid re-listing signals exchanges’ willingness to comply with nuanced legal interpretations.
- Ongoing Challenges: Ripple faces further SEC appeals, keeping long-term uncertainty alive.
FAQs
Q1: Why did exchanges delist XRP initially?
A1: Due to the SEC’s 2020 lawsuit alleging XRP was an unregistered security, prompting preemptive compliance measures.
Q2: Will other tokens benefit from this ruling?
A2: Potentially—the case highlights the need for clear guidelines on crypto classifications.
Q3: What’s next for Ripple?
A3: The SEC may appeal, prolonging legal battles despite the current win.
👉 Explore how exchanges adapt to regulatory shifts
Disclaimer: This content is for informational purposes only. Verify details independently and consult financial advisors before acting.
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