Top Regulated Canadian Exchange Relists XRP

BitBuy, a top Canadian platform, just quietly relisted XRP, making it the second exchange to re-introduce support for the asset after initially delisting it.

As the Ripple vs. SEC legal battle draws closer to the end, the XRP community has continued to advocate for the relisting of XRP on platforms that previously delisted the asset. Recently, BitBuy, a leading Canadian exchange, became the second to do so.

Although BitBuy’s decision to delist XRP over two years ago came with an official announcement, the move to relist the asset was done quietly. In a recent tweet, Mason Versluis, XRP community influencer and founder of Gold Squad, first drew attention to the move.

BREAKING: $XRP has been quietly RELISTED on Canadian exchange @bitbuy 🔥👀 pic.twitter.com/a8REapHETw

— MASON VERSLUIS 🏆🔮 (@MasonVersluis) July 12, 2023

A quick look into the exchange’s mobile app shows that the platform now supports XRP, with trading features reinstated. In addition, BitBuy recently updated its legal Crypto Assets Statement to reflect that it now supports XRP trading.

Expectedly, the development has sparked favorable reactions from the broader XRP community. Some Canadian-based XRP proponents confirmed that they have successfully purchased XRP on the platform.

BitBuy originally listed XRP in March 2019. However, the exchange announced in December 2021 that it would delist XRP on Jan. 13, 2022. The removal of the asset occurred a year after the SEC sued Ripple.

In its announcement, BitBuy disclosed that the move was due to its commitment to Canadian regulations.

The exchange confirmed that it would react appropriately when things change. Accordingly, the recent relisting of XRP has triggered conjecture that the exchange might know something about the upcoming ruling.

Ripple vs. SEC Ruling

BitBuy’s decision to relist XRP comes amid growing speculations that the final ruling for the Ripple case might be at hand. Previous predictions of the end date failed to materialize, leading some proponents to worry about the delay.

However, Attorney John Deaton recently assured the community that the delay is not unprecedented, and there’s no cause for alarm. The Ripple CTO David Schwartz noted the same thing, asserting that a ruling could come by September.

Mixed Reception of XRP

Notably, BitBuy is the second exchange to relist XRP before the final ruling on the Ripple case. Another Canadian exchange, Newton, became the first platform to relist the asset in November 2022, as The Crypto Basic reported.

The XRP community has primarily focused on Coinbase, America’s largest exchange. The community has repeatedly called on Coinbase to relist XRP. However, the platform has not responded favorably to this demand despite agreeing with Deaton’s argument in the SEC lawsuit.

In March, Paul Grewal, Coinbase’s Chief Legal Officer, disclosed that the exchange would not automatically relist XRP even if the final ruling is in Ripple’s favor. Grewal disclosed that Coinbase would first need to evaluate the situation. Amid this uncertainty, Uphold has retained support for XRP.