A prominent cryptocurrency trading platform enabling its customers to buy, sell, and hold various assets, including cryptocurrencies and tokenized stocks, has renewed its support for $XRP, the native token of the XRP Ledger.
On social media, Uphold responded to a Twitter trend in which people continued to request that trading platforms reactivate XRP. In 2020, the U.S. Securities and Exchange Commission (SEC) sued Ripple Labs for selling XRP, saying it is unregistered security. As a result, XRP was delisted from multiple exchanges.
The lawsuit claims that the company paid cryptocurrency exchanges to allow “the trading of XRP” on their systems. The case’s core is whether XRP is a security that should have been registered with the regulator.
Uphold responded to the trend by noting that XRP is listed on it and later confirmed that the cryptocurrency was never delisted.
As reported by CryptoGlobe at the time, Uphold confirmed it would preserve XRP’s listing until the SEC’s case against Ripple Labs is settled and the token’s status as security is legally determined.
Uphold noted that it expects other cryptocurrency exchanges to “take a same posture instead of rushing to judgement before the court’s verdict.” It said that the SEC’s mission is to safeguard consumers and that it is difficult to understand “how a ruling declaring XRP almost worthless and inflicting billions of dollars in losses on retail investors would be consistent with that mission.”
As reported, the company has recently released a new crypto-linked debit card for consumers in the United Kingdom, providing them up to 4% in XRP as rewards.
As was recently reported, the cryptocurrency community anticipates a minor increase in the price of XRP for March, even as it continues to await regulatory clarity.
