Crypto community wants Coinbase to relist the XRP coin

The discussion of the SEC vs Kraken conflict over crypto staking offerings turned into support for Ripple’s native coin XRP. 

On 10 Feb the United States Securities and Exchange Commission (SEC) announced that the agency fined $30 million to the Kraken crypto exchange over crypto staking services, which was unregistered securities. 

Today we charged Kraken with failing to register the offer and sale of their crypto asset staking-as-a-service program, whereby investors transfer crypto assets to Kraken for staking in exchange for advertised annual investment returns of as much as 21 percent.

— U.S. Securities and Exchange Commission (@SECGov) February 9, 2023

      -----Cryptonews AD----->>>  

Sign up for a Bybit account and claim exclusive rewards from the Bybit referral program! Plus, claim up to 6,045 USDT bonus at . https://www.bybit.com/invite?ref=PAR8BE

  <<<-----Cryptonews AD-----    

 

Coinbase CEO Brian Armstrong responded on this matter and said that the exchange will always remain active to oppose government rulings when it comes to protecting services like staking. He also noted that government authorities are not showing interest in creating a framework for the staking services.

Well said. There was no way to register (a disingenuous offer).

“Using enforcement actions to tell people what the law is in an emerging industry is not an efficient or fair way of regulating.” https://t.co/6wVZZbQt23

— Brian Armstrong (@brian_armstrong) February 9, 2023

The crypto community responded to the Coinbase CEO’s statement and asked why Coinbase is staying away from XRP coin despite Coinbase supporting economic freedom ambitions. 

A Crypto Twitter user criticised Coinbase exchange over its approach to delisting XRP coin trading from the exchange but still claiming to protect customers from the government.

Is delisting XRP a good example of Coinbase protecting customers from government overreach?

— Neil Hartner (@illneil) February 10, 2023

Another Crypto Twitter user said that if Coinbase wants to show that it is standing with the customers against the US SEC then it should relist the XRP coin because this coin is still not proven security.

if conbase really wanted to show they are standing up against the SEC they would simply #relistxrp I mean seriously it has not even been declared a security! @coinbase and @brian_armstrong ARE NOTHING BUT A BUNCH OF COWARDS

— CG Graded (@CGGRADED) February 10, 2023

Recently the LBRY Credits (LBC) tokens team won its case against the US SEC and successfully proved that LBC token sales were not subject to any securities law and also LBC token is a non-security digital asset. 

On 2 Feb, the LBRY token team suggested Coinbase relist the XRP coin. According to the LBRY team, XRP token is a non-security asset under its review. 

Coinbase should relist $XRP.

Under the SEC vs LBRY standard, $XRP sold by secondary holders is not a security.

— LBRY (@LBRYcom) February 1, 2023

Read also: Binance implements ZK-SNARKs with its PoR

Crypto community wants Coinbase to relist the XRP coin

 

https://bitcoinik.com/crypto-community-wants-coinbase-to-relist-the-xrp-coin/feed/

https://bitcoinik.com/crypto-community-wants-coinbase-to-relist-the-xrp-coin/feed/