Attorney Morgan expressed confidence that the listing of XRP on Coinbase would not be affected by the meeting between Michael Alderoty and Gary Grewal.
The recent meeting between Stuart Alderoty, General Counsel of Ripple, and Paul Grewal, Chief Legal Officer of Coinbase, continues to generate discussion and comments from members of the XRP community.
Some XRP enthusiasts believe that the meeting between Ripple’s General Counsel and Coinbase’s Chief Legal Officer may lead Coinbase to relist XRP on its trading platform. In response to this development, a popular influencer in the XRP community asked whether the relisting of XRP on Coinbase will result from the meeting.
Attorney Morgan Says No “Coinbase XRP Listing”
According to Bill Morgan, a pro-crypto lawyer based in Australia, the meeting between Ripple’s General Counsel and Coinbase’s Chief Legal Officer is unlikely to lead to the relisting of XRP on Coinbase’s trading platform.
“No, a Coinbase XRP listing will not follow,” said Morgan.
The seasoned lawyer, who has been closely following the legal battle between Ripple and the SEC, questioned why Ripple would expect Coinbase to relist XRP when the exchange had previously declined to include the coin on its liquidity hub service.
Attorney Morgan suggested that the meeting between Ripple’s General Counsel and Coinbase’s Chief Legal Officer was probably about how Ripple could support Coinbase in its request to the SEC for a Writ of Mandamus, or in its defense against the SEC’s recent enforcement action rather than about the relisting of XRP on Coinbase’s trading platform.
In the opinion of Attorney Morgan, it is more likely that the purpose of the meeting between Ripple’s General Counsel and Coinbase’s Chief Legal Officer was to discuss ways in which Ripple could assist Coinbase in its efforts to obtain a Writ of Mandamus from the SEC or in its defense against the SEC’s recent enforcement action, rather than to negotiate the relisting of XRP on Coinbase’s trading platform.
“Coinbase’s different treatment of XRP (halting secondary market sales on its exchange) than any other digital asset traded on its exchange that the SEC has alleged in its lawsuits are securities, will continue,” he stated.
Related Reading: What Will be the Final End Date of the SEC vs Ripple Lawsuit?
XRP Trading Suspended by Coinbase
It is worth noting that in January 2021, Coinbase halted the trading of XRP shortly after the SEC accused Ripple and two of its executives, Brad Garlinghouse and Chris Larsen, of violating securities laws by selling unregistered securities.
Coinbase attributed its decision to halt XRP trading to the SEC lawsuit against Ripple and its executives, citing this as the reason for the move.
“In light of the SEC’s recent action against Ripple Labs, Inc., Coinbase plans to suspend trading in XRP on Tuesday, January 19, 2021, at 10 AM PST,” Coinbase said in a statement.
Despite filing an amicus curiae brief supporting Ripple’s fair notice defense, Coinbase has ignored requests to relist XRP for trading on its exchange since it halted support for the cryptocurrency in January 2021.
According to a recent tweet from John Deaton, the founder of CryptoLaw, Coinbase’s decision to suspend trading of XRP was influenced by the company’s Initial Public Offering (IPO) in 2021. On the other hand, Attorney Hogan has suggested that Coinbase’s decision to halt support for XRP trading could potentially damage its fair notice defense in the SEC’s legal action against Ripple.