Cryptocurrency exchange Coinbase is reintroducing support for: XRP
-0.090%
In New York.
Coinbase Chief Legal Officer Paul Grewal said A post on social media site X on Thursday revealed that New York-based customers will once again be able to buy and sell XRP on its website and mobile application. This relisting comes after Coinbase withdrew its support for the token about four years ago due to a legal battle over its security status.
“We have heard your feedback and are working to build a strong partnership with the state to bring back XRP support for New York State customers,” Grewal said on Thursday. “We’re backed up.”
Coinbase first launched support for XRP in the United States in 2019. However, the exchange stopped The token trading took place in January 2021 amidst regulators filing a lawsuit against XRP issuer Ripple Labs. Ultimately, Coinbase re-launched support for the token later that same year, but continued to restrict access to the token to New York residents.
New York is notorious for having very strict regulations focused on cryptocurrency. For example, the Empire State’s BitLicense has long been considered one of the most difficult and expensive cryptocurrency operating licenses to obtain in the United States.
Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.
© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.
About the author
Elizabeth Napolitano is a data reporter covering business and technology news with a focus on cryptocurrency. Before she joined The Block, Elizabeth reported on BigTech, AI, crypto, and video games for CBS Moneywatch. As a CoinDesk reporter, she covered DeFi, NFTs, and US courts. She received a master’s degree in journalism from CUNY. X: Follow her at @LizKNapolitano.