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The Capital

Another Cryptocurrency Exchange Backed XRP: “We Will Continue Listing XRP”

The U.S. financial authority, the SEC, has sued Ripple over the XRP sales. After the securities lawsuit, many popular cryptocurrency exchanges removed XRP from their platform or suspended XRP trading.

The Uphold exchange opposed the decision, saying it would wait for the outcome of the case. Now Gatehub has joined the Uphold exchange.

GateHub Resumes XRP Operations

An announcement by the Gatehub cryptocurrency exchange said that XRP trading will continue without any halts until a clear decision is made in the case. Gatehub has announced it will remove XRP from their platform only if court rule XRP as security.

Coinbase, Bitstamp, Binance.US and many cryptocurrency exchanges, such as Bittrex, have already taken action against XRP.

Gatehub Said in their blog:

“We have never believed that XRP is a “security” under the prevailing “Howey” test in the US, and regard XRP primarily as a “utility” token whose value is based on its use in payments and foreign exchange. Nor have we personally witnessed any improper market conduct by Ripple Labs or its senior officers. Our own business decision to list XRP — and our attempt to build a payments business using XRP on the XRP Ledger — reflects this good faith belief. We would not have proceeded to build a business within the XRP Ledger ecosystem if the SEC had issued any guidance whatsoever that XRP would be treated as an unregistered “security.” And we would have refused to do business with Ripple or anyone at Ripple who, in our judgment, engaged in fraudulent market practices.”

The Uphold cryptocurrency exchange gave a statement earlier this month. Uphold CEO J.P. Theriot linked the SEC to “a lion who wants to hurt investors,” saying that XRP transactions will continue until the final court decision comes out.

Read: Complete story on Gatehub Blog

Originally published at https://thecryptobasic.com on January 16, 2021.

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