BitStamp resumes Ripple trading

BitStamp crypto exchange announced to relist the XRP token trading despite the US SEC vs Ripple legal battle. 

In the present time, a case between San Francisco based payment giant firm Ripple Vs US regulatory body SEC is going on since 18 December 2021 regarding the billion-dollar XRP Securities sale. 

There are huge expectations that the legal battle between Ripple & the SEC agency will be over by the first quarter of 2022. But due to the start of the legal battle at the end of 2020, many crypto exchanges halted XRP pair trading at their platforms like Coinbase, BitStamp and also many more licensed crypto exchanges. 

But on 3 November, BitStamp crypto exchange announced to start the trading for their users. The relisting of XRP by BitStamp was announced through Twitter. 

However, besides the XRP token, BitStamp enabled 9 other crypto assets trading. 

On 20 December (two days after SEC’ lawsuit against Ripple) BitStamp announced to suspend the trading for XRP token. 

Through the official announcement, BitStamp clearly said that they are doing it because of the lawsuit by the SEC agency 

“In light of the recent SEC filing against Ripple Labs Inc., which alleges that XRP is a security, we are going to halt all trading and deposits of XRP for our US customers on 8 January 2021 at 9 PM UTC.”

Restriction on XRP trading For US customers 

It is worth noting that, BitStamp’ services are not limited to a particular number of countries. So BitStamp is giving XRP trading for non-US countries only right now. 

So here, BitStamp is following the guidelines of regulatory authorities and not allowing XRP trading for US customers. 

After the decision of BitStamp, relistXRP is getting trending with a hashtag on Twitter. Hopefully, other crypto exchanges will also follow BitStamp. For example, Coinbase may resume XRP trading for non-US customers.

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