Coinbase has recently liberalized its listing policy. Anyone can suggest cryptocurrencies that should be listed on Coinbase. Coinbase will then perform its due diligence to list these cryptocurrencies. Previously, only the Coinbase team has decided which cryptocurrencies and Altcoin will be listed on the stock exchange. However, all this has changed.
Does the pending litigation lawsuit against Ripple (XRP) block its listing on Coinbase?
Since liberalizing the listing policy, Coinbase has added some cryptocurrencies and Altcoin to its platform. Furthermore, it is made quite clear that just like a stock market; plans to provide a wide variety of choices to its members. They can finally buy and sell a wide variety of cryptocurrencies and Altcoin. This is why he plans to expand the number of cryptocurrencies and Altcoins that are on offer.
However, this does not match the decision not to list Ripple (XRP) yet. Ripple (XRP) is the second largest cryptocurrency in the world when it comes to market capitalization. He passed Ethereum (ETH). He remained in second position for more than a month. And for this; Ripple (XRP) is a cryptocurrency that can certainly not be ignored. However, this did not require Coinbase to list Ripple (XRP) on its exchange.
Many members of Coinbase and members of the cryptocurrency community in general are confused by this behavior. The probable explanation is that the current lawsuit against Ripple (XRP) may be the reason why it was not listed on Coinbase. The exchange would like to offer cryptocurrencies and Altcoins that are completely legal.
In the past, Coinbase has also made it clear that it intends to list the cryptocurrencies and Altcoins in accordance with the law. This could be an indication of why it is not listing Ripple (XRP). The cause has to do with the decentralization of Ripple (XRP). There are many investors who have filed a lawsuit claiming that Ripple is actually a security, disguised as a token or a cryptocurrency. This is due to the fact that Ripple labs as a company has a great influence on ripple.
Another factor in the case is that investors have stated that Ripple makes them believe that developments in the company will be reflected directly in the price of the XRP token. This is the same as a security. And for this; This cause is of great importance not only for XRP token investors, but also for the cryptocurrency community as a whole. This seems to be exactly what is putting the Ripple Coinbase list (XRP) on hold. Until now, Coinbase has not issued any official statement as to why it has no intention of listing Ripple (XRP).