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On December 7th, Coinbase, one of the main fiat-encrypted exchanges, announced that it is exploring 31 cryptographic assets to be integrated into its exchange.
One of the cryptocurrencies that the exchange is examining is Ripple (XRP), the second most valuable resource in the cryptocurrency market with a market valuation of over $ 12 billion.
Although Coinbase has expressed its intention to list XRP in the future, most investors in the global Ripple community have not been satisfied with the stock market listing of four digital assets including Decentraland (MANA) this month.
So, what exactly is Coinbase handling from the inclusion of Ripple while listing the small cryptocurrencies and ERC20 tokens?
Case of the Federal Court
Earlier this week, Dan Romero, vice president and general manager of Coinbase, said the company would eventually list 90% of legally compliant assets as long as they are above a certain quality bar.
He emphasized that, as in a traditional stock market, the company wants to provide users with as many selections as possible to allow users to decide on which cryptocurrencies to invest.
Romero He said:
"Our recent change in strategy is really customer driven, and when we asked customers what they want, they told us that they are adding new cryptocurrencies to the platform, with a traditional bag listing everything above a certain quality bar. And in the end, investors and individuals make decisions about what to invest ".
With the new priority of Coinbase to add new assets, many Ripple investors have questioned the inability of the exchange to add XRP, since it is the second largest cryptocurrency in the world before Ethereum (ETH).
The cautious approach of Coinbase to the integration of XRP could be influenced by the federal court case pending between Ripple Labs and a group of investors claiming that the asset is a guarantee.
Recently, the lawsuit against Ripple Labs has been brought before the US federal court, and the case will be monumental in establishing the regulatory nature of XRP once and for all.
If the US Securities and Exchange Commission (SEC) considers XRP as a security and Ripple Labs challenges it, it must also go through the federal court. So, even for the SEC of the United States, there is currently no alternative but to wait for the results of the pending case.
According to Jake Chervinsky, a lawyer based in the United States, at a conference in New York, US President SEC Jay Clayton said the committee should wait for a judge or jury to decide whether XRP is a security or not. .
"The question I get most frequently:" Do you think that XRP is a security? "Unfortunately, I can not respond without giving legal advice Even if I could, I would just be speculating on what a judge or a jury can decide and on what Ripple is willing to accept in an agreement, just wait, "said Clayton.
Probably no decision until the end of the judicial proceedings
Until the federal court decides whether XRP is a security service or not, major cryptographic exchanges are not likely to integrate XRP, even if the exchanges believe XRP is not a security.
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