Japanese crypto exchange re-launches XRP trading

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A Japanese crypto exchange appears to have reinstated XRP cryptocurrency trades on its platform in the midst of the Securities and Exchange Commission (SEC) lawsuit against Ripple.

This is a huge gain and victory for XRP holders, who, after a court win by Ripple, took it upon themselves to popularize the “#RelistXRP” on Twitter.

Reports from Blockchain.News revealed that an SEC lawyer responding to Magistrate Judge Sarah Netburn implied that cryptocurrency exchanges were not in violation of securities laws by listing XRP.

Sought for clarification, the lawyer was quoted in saying that “only Ripple and affiliates of Ripple can have sold XRP illegally.” This led to the uproar in the XRP community and the call for exchanges to relist XRP.

Decurret relisted XRP

As it appears, XRP services have been re-launched by Decurret, one of the biggest cryptocurrency exchanges in Japan, on its platform.

The digital currency is now available for trade, with the Japanese Yen and Bitcoin (BTC) being announced as trading pair options.

Regardless of the lawsuit, the crypto platform has continued to trade XRP tokens. This might prompt many to consider relisting XRP especially if there is an assurance that exchanges won’t have any violations of the SEC laws.

Crypto won’t have SEC laws violations

In continuing the story, Blockchain.news cited the statement of Atty. Jeremy Hogan analyzed the hearing between Ripple and the SEC.

He said that “Exchanges that delisted XRP two months ago were not and would not be violating securities laws if they relisted XRP for sale and began to sell it again.” The statement was a response to the earlier statement from the unnamed SEC lawyer.

Last December 2020, SEC moved to sue Ripple Labs and its lead executives Brad Garlinghouse and Chris Larsen for offering unregulated and unregistered digital asset securities through XRP. As a result, out of fear, many exchanges withdrew their support of the cryptocurrency.

Image courtesy of CoinsKid/YouTube

Jet Encila

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Jet Encila

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