The focus is on Coinbase, the biggest cryptocurrency exchange in the US, as people request it to relist XRP. This demand intensified after Coinbase announced a new campaign to promote cryptocurrencies nationwide.
The hashtag “relistXRP” is trending again on Twitter.
Coinbase had previously announced its intention to create a public education campaign after conducting a survey that indicated many Americans see cryptocurrencies as the future of finance. In response, the exchange launched a campaign called “Crypto 435” on Tuesday, named after the 435 Congressional Districts in the United States that it aims to target.
However, Coinbase has acknowledged that policymakers play a crucial role in determining the future of the cryptocurrency industry. They also highlighted the need for careful policies and smart regulations supporting innovation and economic freedom in this emerging market. In light of this, Coinbase plans to expand its crypto advocacy community by launching a new campaign. The campaign will provide interested individuals with details on local politicians and regulators, enabling them to engage in constructive conversations and discussions
Despite Coinbase’s efforts to advocate for improved policies and regulations in the cryptocurrency industry, the XRP community is not impressed. They have expressed dissatisfaction by criticizing the crypto exchange in the comments section of various posts. This is due to incidents where Coinbase seemed to marginalize the XRP community. Examples include removing XRP from the exchange and failing to distribute Songbird (SGB) and Flare (FLR) token airdrops to XRP holders.
Coinbase acted swiftly to delist XRP from its exchange following the SEC’s complaint against Ripple and its executives, which accused XRP of being unregistered security.
However, as the SEC has intensified its enforcement efforts in cryptocurrency and targeted sectors closely linked to Coinbase’s business interests, the exchange has become more resistant. This has been a noticeable shift in Coinbase’s stance towards regulation and policy-making in the industry. How this will impact its relationship with the SEC and the wider crypto community remains to be seen.
The crypto exchange recently updated its risk disclosure, stating that it may not remove a cryptocurrency from its platform even if regulators accuse it of being a security. The exchange clarified that it would only take action if a court ruled in the regulator’s favor. However, Coinbase has not responded to the XRP community’s requests despite this change.
The community has expressed dissatisfaction with Coinbase’s past actions, including removing XRP from the exchange and failing to distribute token airdrops to XRP holders. It remains to be seen how Coinbase will address these concerns and maintain its future relationships with the XRP community and regulators.
Read also: Long-term Holders Make Up Most XRP Baggers, Says Uphold
Uphold Reacts
Furthermore, the #relistXRP hashtag, which has been trending on social media, has caught the attention of Uphold, a competitor of Coinbase.
The global crypto exchange, with over 10 million users based in the US, has highlighted that members of the XRP community who live in the US can continue to buy, hold, and trade XRP on their platform. In an explanatory post, the exchange noted that users could purchase XRP using various methods, including debit or credit cards, bank accounts, or external crypto wallets. This move aims to remind the XRP community that the exchange still supports XRP and provides them with alternative ways to trade the cryptocurrency.
The SEC case against Ripple has been ongoing in the district court for over two years and is awaiting a court ruling. Attorney James K. Filan, who has been providing regular updates on the case, has recently predicted that the judge will deliver her verdict by the end of March or possibly earlier. This prediction suggests that a resolution to the case could be imminent after prolonged uncertainty and speculation.
