LBRY believes that the SEC’s own argument could be used as a premise to relist XRP for Coinbase.
Coinbase delisted this altcoin
cryptocoin.com As we mentioned, in December 2020, when the United States Securities and Exchange Commission (SEC) launched its $1.3 billion lawsuit against Ripple Labs Inc., many exchanges delisted XRP coins. Based on how the regulator’s stance has evolved over the years, Ripple’s ally LBRY is now advocating for Coinbase to relist the digital currency.
Coinbase, one of the leading crypto trading platforms that trades publicly on the NASDAQ, has done everything it can to avoid finding itself a target of the SEC by supporting XRP transactions while its security status remains uncertain. While the exchange has also removed XRP from its wallet, a number of experts have detailed reasons why the trading platform should not bother with delisting the coin.
LBRY, which lost its securities lawsuit to the SEC earlier this year and based on the standard of its own legal proceedings with the regulator, said that sales of XRP on the secondary market by its holders do not constitute a security.
The delisting of the XRP coin could be tagged as one of the primary setbacks for the cryptocurrency following the lawsuit. The price of the coin dropped significantly at the time, as some users trading on exchanges that delisted it had to part ways with the coin.
Hope for the revival of XRP
The litigation between the US SEC and the blockchain payments firm is about to come to a conclusion, and two possible scenarios could end up in favor of the XRP cryptocurrency.
While many believe that Ripple has a chance to win over the regulator, if that happens the XRP coin may be relisted because it would be clear that the regulator’s securities argument was overstepping its authority. However, if the SEC wins, exchanges may not relist XRP, but the coin may follow a clear new roadmap to regain its lost price value.
Positive towards XRP users
With regard to the ongoing LBRY-SEC litigation, Fox Business reporter Eleanor Terrett said that a precedent that could be favorable for XRP users is if the judge decides that secondary market transactions by LBC are legitimate by individuals who are not affiliated with LBRY or have no intention to invest in LBRY. thinks it can create.
January 30 is a date to remember as cryptocurrency startup LBRY holds its final hearing. According to Attorney Jeremy Hogan, who shared the first word he received from the trial, the SEC admitted on the record that the LBC token itself is not a security.
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