After a two-year hiatus, Kraken and iTrustCapital have announced they are once again trading XRP, and more exchanges, perhaps including Gemini, may soon follow suit.
Once a judge determined the currency was not a security under the SEC’s jurisdiction, Coinbase said it will offer XRP trading for the first time in around two years, both for spot and futures trading. Legal precedent from the Ripple case may provide some relief for exchanges that provide XRP trading after the SEC took enforcement measures against exchanges like Binance and Coinbase for suspected unregistered securities offers.
Since the lawsuit was first brought, it’s been obvious that it will affect businesses worldwide. OKX, along with many other exchanges, delisted XRP in 2020 and 2021 due to regulatory concerns. These exchanges have all praised the court’s judgement but have made no indication that they intend to resume trading XRP. Though cryptocurrency exchange Kraken eventually confirmed on social media that it will relist XRP after the court verdict, the company’s first remark was more vague.
In December 2020, the SEC issued charges against Ripple, CEO Brad Garlinghouse, and co-founder Chris Larsen, leading to a widespread delisting of XRP from U.S.-based trading platforms. Uphold, a crypto payments processor and exchange provider said it would wait to take any action on XRP until the legal dispute was resolved.
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