Coinbase Top Official Responds to XRP Relisting in Latest Interview

Paul Grewal noted that Coinbase would still need to make assessments even if XRP is declared a non-security by the judge.

Paul Grewal, the Chief Legal Officer of America’s largest exchange Coinbase, has outlined the prerequisites for relisting XRP on the platform. 

Grewal disclosed this while speaking with host Ash Bennington on the latest episode of Real Vision’s Crypto Daily Briefing show. Notably, Grewal fielded questions from crypto proponents regarding Coinbase’s lawsuit against the US SEC, the legal climate surrounding the US crypto industry, and how it affects its regulatory trajectory.

One of the questions Bennington forwarded to Grewal came from Eri, a prominent influencer within the XRP community. Eri asked: “If the court finds secondary market sales of XRP are not securities, how would that affect the listing of XRP on Coinbase?”

In response, Grewal emphasized that Coinbase always evaluates and re-evaluates decisions surrounding the listing of assets on its platform. He pointed out that the exchange had to disable trading for XRP due to the lawsuit from the U.S. SEC, which started in December 2020.

Grewal stressed that while XRP is still subject to litigation two years later, the Coinbase team is watching out for Judge Analisa Torres’ ruling on the case. This syncs with the sentiment within the XRP community and the broader crypto scene.

However, Grewal noted that a positive ruling for XRP would not automatically make Coinbase relist the asset. He remarked: “However the judge rules, of course, we (Coinbase) are going to assess her ruling and any follow-on appeals and very much weigh the court’s determination and any decision we might make about relisting XRP.”

Coinbase Strikes Back: Chief Legal Officer Explains Its SEC Fight. Thank you @AshBennington for taking the question regarding the relisting of #XRP. https://t.co/3N5gPToz6l via @YouTube

— 🌸Crypto Eri 220k+ Followers (Beware of Imposters) (@sentosumosaba) May 3, 2023

Conclusively, Grewal noted that Coinbase remains eager to hear the final ruling from Judge Torres to carry out these assessments before deciding if it is safe to relist XRP. As previously reported by The Crypto Basic, Grewal made similar comments in March while speaking on an episode of Thinking Crypto, a crypto-focused podcast.

XRP Relisting Calls Intensify

Amid the dynamic regulatory atmosphere surrounding digital assets in the US, the calls for Coinbase to relist XRP have recently intensified.

This is due to recent developments, including Coinbase’s lawsuit against the SEC and SEC Chairperson Gary Gensler’s inability to categorize ETH and XRP as securities during the recent congressional oversight hearing. Several proponents have seized the opportunity to highlight the extent of the regulatory uncertainty in the US.

Moreover, last month, Grewal disclosed that he agrees with Attorney John Deaton’s argument on what constitutes a security in the SEC vs. Ripple case, signaling that Coinbase also does not see XRP as a security. Most recently, a meeting between Grewal and Ripple’s CLO Stuart Alderoty further triggered calls for Coinbase to relist XRP.