Gemini Exchange Faces SEC Scrutiny After XRP Relisting - COINTURK NEWS
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Gemini Exchange Faces SEC Scrutiny After XRP Relisting

4:04 am (40 days ago)
August 12, 2023

The world of cryptocurrency is dominated by a major event that comes to mind when we talk about it. The RippleSEC lawsuit continues to attract attention as an incident that even people unrelated to the subject have heard of at least once. Following Ripple’s recent major victory, listing news flooded in, and it concluded with the listing of the local cryptocurrency, XRP, on the Gemini exchange.

Gemini Becomes a Target of the SEC

As a result of XRP’s relisting on the Gemini cryptocurrency exchange, the U.S. Securities and Exchange Commission (SEC) has come under fire due to its stance on the crypto market. On Friday, Tyler Winklevoss, co-founder of Gemini, stated that America deserves better when it comes to setting rules for crypto.

Just the other day, we reported that XRP had been relisted on the Gemini exchange after a three-year hiatus following the SEC’s lawsuit against Ripple. In the wake of all these events, it remains uncertain whether the SEC’s attitude towards exchanges will become harsher or not.

Winklevoss Blames Gary Gensler

Tyler Winklevoss, co-founder of Gemini, strongly criticized Gensler for resorting to anti-crypto sanction actions in response to the token’s relisting on the platform. He stated that during a period when the SEC sued everyone, clear rules were not being established.

$XRP is now available on Gemini. It is important to note how we got here. Instead of establishing clear rules for crypto, the SEC chose to sue everyone. They lost the case against Ripple, and when Gary Gensler failed to do it, a judge provided clarity. America deserves better.

On the Gemini exchange, XRP is available for trading with seven fiat currencies: USD, GBP, EUR, CAD, SGD, HKD, and AUD. Meanwhile, the price of XRP has been on a steady decline compared to the highs reached after the Ripple case Summary Judgment on July 13, 2023, when U.S.-based crypto exchanges Coinbase and Kraken announced the immediate relisting of the token. Gemini, on the other hand, was considered late to the game by the crypto community for its XRP listing.

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