Is XRP Lawsuit Ruling Key For Coinbase Against US SEC?

XRP Lawsuit: Coinbase, the U.S. largest crypto exchange has been dealing with strong regulatory scrutiny by the Securities and Exchange Commission (SEC). This comes when the digital asset market has witnessed a collapse of several big firms and exchanges. However, the lawsuit between US SEC and Ripple has emerged as key for exchanges like Coinbase against watchdog enforcement.

Also Read: Why Didn’t Ripple Register XRP With US SEC? Brad Garlinghouse Replies

XRP Lawsuit To Lead Towards Clarity

John Deaton, Amicus curiae in the XRP lawsuit in conversation with Paul Grewal, Chief Legal Officer of Coinbase discussed the importance of the outcome of the US SEC Vs Ripple case for the exchange.

Coinbase’s Legal Chief mentioned that the crypto exchange is following and paying very close attention to Judge Analisa Torres’s court proceedings. He added that they are very eager to see clarity around the marketplace. Hopefully, this will clear out the confusion built by the US SEC.

Grewal highlighted that the XRP lawsuit ruling will scatter skepticism around the primary and secondary sales and this confusion needs to be addressed once and for all. Read More XRP News Here…

Also Read: Ripple Exec Hints Coinbase’s Next Move

However, Coinbase has already voiced its support for Ripple in the XRP lawsuit as it filed in for proponents filing briefs.

Coinbase’s legal chief in a recent interview also addressed the possibility of relisiting XRP on the exchange. Meanwhile, the issue stands at the point, where the court needs to decide on the nature of the XRP and secondary sales of it. He highlighted the nature of the six largest cryptos is still subject to litigation after spending 2 years in court.

While, Coinbase CEO, Brian Armstrong stated that the exchange would not leave the U.S. despite scrutiny received from the U.S. SEC.