The community speculates that Coinbase’s decision to delist XRP in 2020 was motivated by a desire to safeguard users from “government overreach.”
In light of Coinbase’s support for crypto staking and economic liberty, the online community has also asked the business to promote XRP. Paul Grewal, Coinbase’s chief legal officer, said on February 9 that the shutdown of Kraken’s staking services has no effect on Coinbase’s staking program.
He lamented the absence of clear staking laws and added: “We will continue to fight for economic liberty; this is our objective at Coinbase. Sometimes, defending our clients from government overreach is part of having the most trusted brand in crypto.
The community reacted swiftly to Armstrong’s “economic independence” plans, with many condemning Coinbase for avoiding XRP after its delisting in 2020.
A number of crypto activists cited a recent judicial victory surrounding the selling of LBRY Credits (LBC) tokens, drawing comparisons with XRP.
The SEC agreed on record on January 30 that the secondary market sale of LBRY tokens does not constitute a security, meaning that Coinbase may provide LBC trading without legal concerns.
“Coinbase and others should list XRP immediately now that LBRY’s legal team and Deaton have convinced the SEC that secondary market sales of cryptocurrencies, such as through exchanges, do not constitute securities transactions,” a Twitter user stated. XRP, a prominent cryptocurrency native to the Ripple protocol that was introduced in 2012, aims to offer financial instruments such as an international payment system.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.