Coinbase, a cryptocurrency exchange, has permitted Ripple (XRP) trading in New York. Indeed, the exchange’s chief legal officer, Paul Grewal, turned to X (previously Twitter) to inform his followers that the cryptocurrency is once again available.
Grewal stated that the corporation was listening to traders about the asset. “We heard you and put in the work in strong partnerships with the state,” he addressed the community on Thursday. Coinbase banned XRP trading in January 2021 following the SEC’s lawsuit against the business.
Over the last few years, the digital asset business in the United States has faced ambiguous regulation. Furthermore, the US Securities and Exchange Commission (SEC) has a history of implementing regulations through enforcement.
One of the most significant businesses affected by this strategy was Ripple. The cross-border payment tycoon has been embroiled in a years-long legal battle with the government agency. However, things are looking up; an impending resolution has recently been met with a significant new listing for its local asset.
Coinbase Relist Ripple (XRP) After 3 Years
Coinbase, a well-known cryptocurrency exchange, recently announced that Ripple (XRP) trading is now available in New York. The exchange’s chief legal officer said the news represents a significant step forward for the organization.
The legal issue between Ripple and the SEC is expected to be resolved soon. Both sides are in the process of finalizing their filings, and a decision is likely soon. Furthermore, the receipt of that ruling should significantly impact XRP’s value.
Throughout 2024, XRP has struggled to gain significant momentum. According to CoinMarketCap, the asset is trading at $0.52, increasing by more than 1.6% in the last seven days. However, the Coinbase listing could boost that price in the short term.