Cryptocurrency exchanges Crypto.com and Bitstamp have announced the resumption of XRP trading in the U.S. following a court ruling that deems XRP as not a security
Two prominent digital currency exchanges, Crypto.com and Bitstamp, have announced the reintroduction of XRP trading in the United States.
This follows a court ruling that exchange sales of XRP are not securities, prompting these platforms to restore trading of the controversial digital token associated with Ripple Labs.
Crypto.com and Bitstamp are joining Coinbase and Kraken, which also recently re-enabled XRP trading for their US customers.
Bitstamp was the first cryptocurrency exchange to suspend XRP trading in the US, in response to the Securities and Exchange Commission’s (SEC) lawsuit against Ripple in late 2020.
The lawsuit claimed that Ripple was engaged in an illegal securities offering with its XRP token. However, Bitstamp has now welcomed back XRP trading for its US clientele, providing a link for more information in their announcement tweet.
Following suit, Crypto.com confirmed that XRP trading is available once again on its platform. The announcement read: “Now everyone can trade $XRP in the Crypto.com App.”
The platform added that XRP can be purchased at true cost with USD, EUR, GBP, and more than 20 other fiat currencies. The news was well-received by the XRP community, resulting in a surge in trading activity.
In another positive development for XRP, Gemini, a prominent cryptocurrency exchange, is also reportedly considering listing the token. According to a tweet, given the recent court ruling that the sale of XRP on exchanges does not constitute a security, the exchange is “exploring the listing of XRP for both spot and derivatives trading.”
This flurry of announcements from major exchanges has led to an 80% rise in XRP’s price, allowing it to overtake Binance Coin (BNB) in the process.
Source: https://u.today/bitstamp-and-cryptocom-join-xrp-relisting-bandwagon