Good News for Ripple (XRP) from Coinbase

Coinbase, one of the world's largest cryptocurrency exchanges, announced the resumption of XRP trading in New York.

The announcement was made by Paul Greal, Coinbase's Chief Legal Officer, who stated: “XRP trading on Coinbase is available again in NY. We have listened and worked in strong partnership with the state. And now we can announce, we are back in business.”

XRP trading has been restricted in New York since December 2020, when the New York Attorney General's Office filed a lawsuit against Ripple Labs. This led to many cryptocurrency exchanges suspending XRP trading for New York residents.

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However, New York residents looking to purchase XRP had to resort to using a cryptocurrency exchange registered with the New York State Department of Financial Services (NYDFS) and authorized to operate in the state. Some of these exchanges were Bitstamp, Bitfinex, and Bittrex.

In a significant development last July, Coinbase, along with other exchanges, moved to relist the controversial token following a court ruling stating that secondary sales of XRP were not securities. Despite this, trade was not supported in New York until now.

*This is not investment advice.
Continue Reading: Good News for Ripple (XRP) from Coinbase