If Ripple wins against the US Securities and Exchange Commission (SEC) in the legal battle, the relisting of the XRP token on the largest American crypto exchange Coinbase will be one of the biggest stories in the XRP community. In a recent interview, Paul Grewal, Chief Legal Officer (CLO) at Coinbase has now spoken in detail about the issue and explained what the XRP relisting process will look like.
Coinbase has suspended XRP trading in January 2021, shortly after the SEC filed a case, and has since kept the token suspended despite vocal requests from the XRP community. In yesterday’s interview with Thinking Crypto host Tony Edward, Grewal expressed optimism for Ripple to win, but also stressed that relisting does not depend only on the question of victory in court.
Coinbase CLO Sees Strong Case For Ripple
Grewal discussed that US crypto exchanges are evaluating assets for listing or delisting or pausing. He can also understand the frustration of the XRP community.
“I understand that for many XRP holders it has been frustrating that they have not been able to sell their assets on Coinbase while this SEC case is pending,” said Grewal, who went on to say that the SEC did not stop Coinbase out of caution. monitor the status of litigation.
Like others, Grewal is waiting for a decision, praising the work of Ripple’s lawyers in the highest terms: “I always pay attention to the fact that the defendants in this case have done a masterful job to push the SEC and seriously question all the theories of the SEC.”
This also prompted Coinbase to file an amicus brief in support of some of Ripple’s defenses. Ripple CLO Stuart Alderoty and others at the fintech company have done “an incredible job,” according to Grewal, so he believes the court’s decision will favor Ripple.
We will see that the SEC theory has serious problems. I think the brief of this case has been excellent and we will all know what the trial judge thinks of the arguments.
However, the Coinbase CLO also stressed that in its opinion, the decision of the Southern District Court of New York will only be the first step in a longer process. Grewal believes that it is very likely that both sides in the case will appeal, regardless of who wins in court.
When Will XRP Be Listed Again?
On the timeline of possible relisting after the decision by the trial court, Grewal said that it depends on the grounds of the decision, the judge’s legal reasoning and Coinbase Assessment whether or not the appeals court will uphold the decision.
“So much will depend on the details of the court’s rules. I know that it will not be very satisfactory for some, but we have the responsibility as a publicly listed company to walk carefully in this area and about any token that is the subject of the court federal litigation,” Grewal said.
In conclusion, Coinbase CLO assures that the exchange will immediately start the review process as soon as the decision appears.
But I am very excited as another person to see how the court rules and what I can say, as soon as we have a decision, we will put in our process to see if we need to revisit our listing decision.
At press time, XRP price is trading at $0.37, still maintaining a downtrend on the 1-day chart.
Option image from Forkast News, chart from TradingView.com