A US court on July 13 did not recognize the sale of Ripple tokens on exchanges as securities transactions
Major cryptocurrency exchanges, following Coinbase, announced the resumption of XRP token trading following a US federal court ruling in the case between the US Securities Commission (SEC) and Ripple Labs
Coinbase announced on July 13 that it will resume XRP trading. Cryptocurrency exchanges Crypto.com and Kraken Pro, in turn, said on July 14 that XRP has been re-registered on their trading platforms.
Many crypto exchanges operating in the U.S. suspended XRP trading when the SEC filed a lawsuit against Ripple Labs in late 2020.
A U.S. court on July 13 did not recognize Ripple’s XRP token as a security. But the token’s status has not yet been finalized. The case can now go to trial or be appealed. The token reacted to the key decision in the multi-year process by growing by 30%.
In June lawsuits against major crypto exchanges Binance and Coinbase, the commission equated a whole list of crypto assets to securities.