Paul Grewal, Coinbase’s Chief Legal Officer, revealed that XRP can now be traded in the state during an announcement on X. Grewal told the community on Thursday that they listened to their feedback and worked closely with the state to make this possible.
In January 2021, Coinbase halted XRP trading due to the SEC’s lawsuit against the company.
In recent years, the digital asset industry in the U.S. has struggled with ambiguous regulations. In addition, the SEC has frequently relied on enforcement actions to establish a regulatory framework.
Ripple, a prominent cross-border payments giant, has been significantly impacted by this approach. The company is embroiled in a lengthy legal battle with the agency. However, there appears to be a positive turn of events. A significant new listing for its native asset has coincided with the anticipation of a resolution to the ongoing litigation.
Following Grewal’s announcement, XRP experienced a spike in value, but has since retreated to just below $0.53. It has been reported that the price of XRP is currently down 1.3%, despite a notable 31% increase in trading volume to over $1.7 billion in the last 24 hours.
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