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Just In: Coinbase Now Allows XRP Trading in New York

source-logo  u.today  + 1 more 23 May 2024 14:27, UTC

The XRP cryptocurrency is now available for trading in New York for Coinbase users, according to a Thursday announcement made by Paul Grewal, the exchange's top lawyer.

"We heard you and put in the work in strong partnership with the State. And now the word can be put out— we are back up," Grewal said in his social media statement.

Coinbase suspended XRP trading in January 2021 after the U.S. Securities and Exchange Commission (SEC) took Ripple to court.

Last July, Coinbase moved to relist the controversial token together with other exchanges after the court ruled that secondary sales of XRP were not securities. However, trading in New York was still not supported until now.

New York is known for having stringent cryptocurrency regulations. Its "BitLicense" framework makes it particularly challenging for companies to operate in the state.

Last month, the Shiba Inu (SHIB) cryptocurrency also became available for Robinhood's New York customers.


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