Crypto Exchanges Embrace XRP After Court Ruling: Coinbase, Gemini, Kraken and More
• On Thursday, a U.S. Federal Court ruled that the sale of XRP tokens on exchanges and through algorithms did not constitute investment contracts.
• Crypto exchanges have started to list Ripple’s token on their platforms in response to the court ruling. Coinbase (COIN), Gemini, Kraken, and Bitstamp are some of them who will re-list the XRP token.
• Former Celsius CEO Alex Mashinsky was arrested on charges of fraud and his bail is set at $40 million by a judge.
Court Ruling Gives Regulatory Clarity for Crypto Industry
Ripple scored a partial win in its fight with the U.S. Securities and Exchange Commission (SEC) after a federal court ruling that brought some regulatory clarity for the crypto industry. Willkie Farr & Gallagher LLP Counsel Michael Selig along with INX advisor and former SEC attorney Alex Damsker shared their respective insights into the legal judgement.
Crypto Exchanges Embrace XRP After Court Ruling
Crypto exchanges have started to list Ripple’s token on their platforms following the court ruling that sale of XRP tokens on exchanges and through algorithms did not constitute investment contracts. Coinbase (COIN) said it will restart trading for Ripple’s token if there is enough liquidity in its platform, while Gemini mentioned it may also list the token after the ruling as well. Kraken has announced that US residents can deposit and trade XRP, while Bitstamp said it will re-list the token on its exchange too.
Former Celsius CEO Arrested
Former Celsius CEO Alex Mashinsky was arrested Thursday on charges of fraud and his bail was set at $40 million by a judge afterwards.
Industry Insights from Legal Professionals
Willkie Farr & Gallagher LLP Counsel Michael Selig and INX advisor and former SEC attorney Alex Damsker each provided their respective insights into this week’s legal judgement regarding XRP, providing further insight into what this decision could mean for both Ripple’s future prospects as well as those looking to invest in cryptocurrencies moving forward.
Conclusion
The recent court ruling is an important step towards more regulatory clarity within cryptocurrency markets, allowing investors more security when investing in digital assets such as XRP tokens, while also paving way for other crypto exchanges to embrace such coins without fear of violating laws or regulations related to investments or securities sales within US jurisdiction
