Major cryptocurrency exchanges, including Coinbase and Kraken, have relisted the XRP token following a court ruling that determined XRP is not a security. This decision has led to a price increase of nearly 25% for XRP, making it the fifth-largest cryptocurrency by market capitalization.
The ruling by U.S. District Judge Analisa Torres stated that XRP is not a security when traded on secondary exchanges, giving Ripple a partial victory in the ongoing case. As a result, Coinbase, Kraken, Gemini, and Bitstamp have relisted XRP for trading.
Coinbase's stock also experienced a significant increase in value due to the positive implications of the court ruling for its own legal dispute with the U.S. Securities and Exchange Commission (SEC). The SEC had recently sued Coinbase and Binance for allegedly operating unlicensed securities exchanges.
However, it's important to note that despite the relisting of XRP, the classification of cryptocurrencies as securities is still an unsettled matter. The SEC can still challenge the court's decision, and there are ongoing discussions in Congress about regulating the crypto industry.
Overall, while the relisting of XRP is seen as a positive development, it doesn't provide a definitive resolution to the regulatory uncertainty surrounding cryptocurrencies.
.jpg)
.jpg)
.jpg)