XRP Crypto News: Even as the wait for Summary Judgement in the XRP SEC case drags on, traders are demanding yet again for relisting of the cryptocurrency in exchanges. This is despite the ongoing enforcement actions against crypto businesses by the U.S. regulatory authorities, the recent major action being against Coinbase. Meanwhile, crypto prices are steadily growing with Bitcoin price finding support around the $28,000 level.
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Amicus Curiae attorney John Deaton, who represents over 76,000 XRP token holders in the Ripple case against the U.S. Securities and Exchange Commission (SEC), said a ruling could be expected around two months from the last ruling. However, he said the ruling in the much anticipated case in the crypto market could go beyond that time, he said. The last ruling from Judge Analisa Torres in the ongoing Ripple vs SEC came on March 6, 2023. In this ruling, the judge denied SEC motions to exclude testimony.
‘Relist XRP’
Paul Grewal, the Chief Legal Officer at Coinbase, agreed with Deaton’s views that “a digital asset or cryptocurrency is not a security.” In response to this, the XRP community asked why Coinbase was not relisting XRP.
Mr. Deaton is exactly right. “Investment contracts” must include both “investment” and “contracts” as those terms are set out by Congress and interpreted by the Supreme Court. Neither is present when it comes to secondary sales of digital assets. https://t.co/9iWYrWwpiI
— paulgrewal.eth (@iampaulgrewal) April 2, 2023
Meanwhile, the XRP price took a drop of 6.60% over the last one week. whereas Bitcoin price rose by 1% during the same period.
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