US Court’s Landmark Decision: XRP Not a Security, Exchanges Race to Relist

Author: İlayda Peker

The world of cryptocurrency saw one of the most significant summary court decisions of the year last night. Judge Analisa Torres, overseeing the case opened by the US Securities and Exchange Commission (SEC) in December 2020, ruled that XRP is not a security. Following this decision, many cryptocurrency exchanges that had delisted XRP rushed to relist the leading altcoin. We have compiled a list of cryptocurrency exchanges that have relisted Ripple‘s XRP.

Major Exchanges like Gemini, Coinbase, and Kraken Relist XRP

In the long-standing legal battle between the US securities regulator SEC and Ripple, the court ruled that XRP is not a security. Judge Torres decided that some of the XRP sales didn’t fully meet the definition of a securities offering, while indicating that sales made to institutional buyers by Ripple were illegal securities sales. After this decision, a growing number of large cryptocurrency exchanges initiated XRP trading by relisting.

US-based cryptocurrency exchange Gemini announced the relisting of XRP for spot and futures trading, a decision followed by Coinbase. The major cryptocurrency exchange relisted the altcoin, resuming trading after several years.

Following Gemini and Coinbase, Crypto.com, Kraken, and Bitstamp also announced they had relisted XRP.

Exchanges Believe Their Legal Path Forward With XRP is Clear

Many cryptocurrency exchanges, particularly those operating in the US, had delisted XRP after the SEC filed a lawsuit against Ripple at the end of 2020. The court’s decision in favor of Ripple and ruling that XRP is not a security resulted in a significant victory for the world of cryptocurrency, leading cryptocurrency exchanges to compete fiercely to relist XRP.

Keyrock, a cryptocurrency market maker’s APAC Business Development Director, Justin d’Anethan, commented, “It seems the court’s statement is clear enough for many cryptocurrency exchanges, or at least their legal departments think they won’t face any legal problems in the future based on the current decision. Unquestionably, after many cryptocurrency exchanges have experienced difficulties, it seems quite reasonable to relist and start trading a token that is described as ‘not a security’.”