If Ripple wins the case against the U.S. Securities and Exchange Commission (SEC), a relisting of the coin on America’s largest cryptocurrency exchange could ensue.
Coinbase chief legal officer Paul Grewal has delved into the possibility of relisting XRP in a recent interview.
Will Coinbase Relist XRP Promptly?
When the SEC filed its suit in December 2020, many pundits and observers felt it was a death knell for XRP, as the token was delisted from most crypto exchanges globally, including Coinbase. At the time, Coinbase said the move was motivated by its Digital Assets Framework policy, which assesses factors like securities compliance.
Speaking to Tony Edward — host of the Thinking Crypto podcast, Coinbase’s chief legal officer Paul Grewal acknowledged that this delisting had been a constant source of frustration for XRP fans.
When asked whether Coinbase is planning to relist XRP after the court’s ruling in the SEC v. Ripple lawsuit, Grewal noted that it would depend on the grounds of the ruling, the judge’s legal reasoning, and the exchange’s assessment of whether or not the apex court would uphold the decision.
“So a lot is going to depend on the particulars of that court rules. I know that’s not going to be terribly satisfying to some, but we do have a responsibility as a publicly listed company to tread carefully in this area and with respect to any token that’s a subject of federal court litigation,” the CLO explained.
He, however, assured XRP holders that Coinbase would immediately begin the review process as soon as the ruling was made.
“But I am very eager as anyone else to see how the court rules and what I can say, as soon as we have the ruling, we will put in our process to see if we need to revisit our listing decision.”
Coinbase Exec Praises Ripple’s Attorneys Ahead Of Crucial Court Ruling
You might recall that Coinbase petitioned a federal court for permission to back Ripple’s case against the SEC.
In his latest interview, Paul Grewal commended the incredible work of Ripple’s legal team. “I certainly paid attention to the fact that the defendants in this case have done a masterful job of pushing the SEC and raising serious questions about the SEC’s entire theory,” the CLO posited.
Grewal revealed that these efforts by Ripple’s chief legal officer Stuart Alderoty and others at the San Francisco-based payments firm prompted Coinbase to file a friend of the court (“amicus”) brief in the long-standing suit between the XRP progenitor and the SEC.
Like most people in the crypto community, Grewal is impatiently awaiting a decision in the case, and he is optimistic that the judge will rule in Ripple’s favour.
Ripple CEO Brad Garlinghouse previously speculated that the suit could be wrapped up by June but admitted that is only a guess.