Newton Crypto, a Canadian cryptocurrency trading platform, becomes the first exchange for relisting XRP.
Newton Crypto, one of Canadaâs most prominent crypto exchanges, has finally relisted XRP following a decision to delist the asset nearly a year ago in the heat of Rippleâs legal tussle with the U.S. Securities and Exchange Commission.
The development was disclosed by co-founder and Chief Executive Officer of Newton Crypto, Dustin Walper, in the late hours of Wednesday.
âSurprise! We relisted XRP on @newton_crypto,â Walper said in a tweet that has generated a sense of elation and a trip down memory lane for several XRP proponents.
While the majority of the community have received the news well, others expressed indifference in the development, as they reminded the Newton team of their decision to delist XRP on their Canadian platform despite not being directly affected by the SECâs legal battle with Ripple.
Recall that Newton Crypto revealed a decision to delist XRP and USDT on its platform in December of 2021, citing legal and regulatory issues. Users were given until January 19, 2022, to move all their XRP and USDT out of their Newton accounts.
Newtonâs decision to delist XRP came amidst a pattern noticed amongst several exchanges, including Americaâs largest exchange, Coinbase which suspended XRP trading on January 19.
As the SECâs case with Ripple inches closer to an end, XRP proponents are anticipating a review of these decisions before long. Newton Crypto is the first exchange to relist the asset, and others might follow suit soon.
Coinbase, in particular, recently requested to file an amicus brief in support of Ripple in the ongoing lawsuit, as The Crypto Basic recently reported. Coinbase highlighted that it was forced to make the difficult decision of delisting XRP and other U.S.-based exchanges.
The platformâs amicus brief has precipitated a wave of speculations amongst several proponents, as many wonders if the exchange will be relisting XRP soon. Should Coinbase choose to accommodate XRP, it wouldnât be the first time the exchange is housing assets the SEC believes are âunregistered securities.â
Following the DoJ charges brought on a former Coinbase employee for insider trading on the exchange, the SEC leveraged the opportunity to declare that nine of the cryptocurrencies found on Coinbase are unregistered securities.
Coinbase clapped back on the SEC, noting that it does not list securities, and assets on its platform are not securities as alleged. âNo assets listed on our platform are securities, and the SEC charges are an unfortunate distraction from todayâs appropriate law enforcement action,â Coinbase noted in a blog, as previously reported.
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