Coinbase: Customer Class Action Dismissed!

The situation is currently very tense between the SEC and companies offering a crypto staking service. Indeed, rumors have been circulating recently about the fact that the American regulator would like to ban staking. They were confirmed yesterday with the end of the staking program of the Kraken exchange by decision of the SEC. Now, Coinbase is positioning itself as a staunch defender of this crypto service in the face of the Securities and Exchange Commission. But, the crypto community thinks it should instead focus its efforts elsewhere, in this case towards XRP.

Community calls for Coinbase to support XRP again

Exchanges are on high alert after Kraken’s staking service was shut down amid SEC accusations. Coinbase has stepped up to defend this service, emphasizing economic freedom. It was then that the community asked him to reconsider its decision to no longer support XRP. The community believes that if the crypto exchange is serious about championing economic freedom, it needs to re-accept the XRP token.

Coinbase should re-list XRP

It should be remembered that Coinbase stopped supporting the token issued by Ripple in 2020. It made this decision following the accusations that the SEC brought against Ripple. These stated that the crypto company violated securities laws by selling XRP tokens. Today, the crypto community thinks the exchange has no not set a good example by deleting the token from Ripple.

Speaking of which, a crypto lover asked this February 10:Is the delisting of XRP a good example of Coinbase protecting customers from government abuse?“. It was his way of commenting on a post from the CEO of Coinbase which read: “We will continue to fight for economic freedom (our mission at Coinbase). Some days being the most trusted brand in crypto means protecting our customers from government abuse“.

The #relistXRP hashtag has again become popular on Twitter. Several users have argued that XRP is not yet a security in the eyes of the law. Yet it is on this basis that the SEC has been pursuing a lawsuit against Ripple for more than two years. In this context, a crypto analyst said: “If Coinbase really wanted to show they oppose the SEC, they would have simply put XRP back on their list.“.

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