Newton Crypto, a Canadian cryptocurrency trading platform, becomes the first exchange for relisting XRP.
Newton Crypto, one of Canada’s most prominent crypto exchanges, has finally relisted XRP following a decision to delist the asset nearly a year ago in the heat of Ripple’s legal tussle with the U.S. Securities and Exchange Commission.
The development was disclosed by co-founder and Chief Executive Officer of Newton Crypto, Dustin Walper, in the late hours of Wednesday.
“Surprise! We relisted XRP on @newton_crypto,” Walper said in a tweet that has generated a sense of elation and a trip down memory lane for several XRP proponents.
Surprise! We relisted $XRP on @newton_crypto.
— Dustin Walper (@DustinWalper) November 2, 2022
While the majority of the community have received the news well, others expressed indifference in the development, as they reminded the Newton team of their decision to delist XRP on their Canadian platform despite not being directly affected by the SEC’s legal battle with Ripple.
Recall that Newton Crypto revealed a decision to delist XRP and USDT on its platform in December of 2021, citing legal and regulatory issues. Users were given until January 19, 2022, to move all their XRP and USDT out of their Newton accounts.
Newton’s decision to delist XRP came amidst a pattern noticed amongst several exchanges, including America’s largest exchange, Coinbase which suspended XRP trading on January 19.
As the SEC’s case with Ripple inches closer to an end, XRP proponents are anticipating a review of these decisions before long. Newton Crypto is the first exchange to relist the asset, and others might follow suit soon.
Coinbase, in particular, recently requested to file an amicus brief in support of Ripple in the ongoing lawsuit, as The Crypto Basic recently reported. Coinbase highlighted that it was forced to make the difficult decision of delisting XRP and other U.S.-based exchanges.
The platform’s amicus brief has precipitated a wave of speculations amongst several proponents, as many wonders if the exchange will be relisting XRP soon. Should Coinbase choose to accommodate XRP, it wouldn’t be the first time the exchange is housing assets the SEC believes are “unregistered securities.”
Following the DoJ charges brought on a former Coinbase employee for insider trading on the exchange, the SEC leveraged the opportunity to declare that nine of the cryptocurrencies found on Coinbase are unregistered securities.
Coinbase clapped back on the SEC, noting that it does not list securities, and assets on its platform are not securities as alleged. “No assets listed on our platform are securities, and the SEC charges are an unfortunate distraction from today’s appropriate law enforcement action,” Coinbase noted in a blog, as previously reported.
Follow Us on Twitter and Facebook.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.