Ripple, as it turns out, scored another victory despite its ongoing legal battle with the U.S. Securities and Exchange Commission (SEC) over its token, XRP.

This, after Phemex crypto exchange announced it would once again have XRP on its trading platform. The move was apparently due to the great demand for cryptocurrency.

Meanwhile, the digital currency exchange has also introduced eight new coins for spot and contract trading on its platform. The new cryptocurrencies are Basic Attention Token (BAT), Chiliz (CHZ), Decentralized country (MANA), Enjin Coin (ENJ), Sushiswap (SUSHI), Synthetix (SNX), Graph (GRT), and Maker (MKR).

Not only Phemex

In just less than a month, two cryptocurrency exchanges have relisted XRP on their platforms.

Last week, Japanese crypto exchange Decurret announced that the digital currency has been restored to their platform and is once again available for trading. The development, just like the actions of Phemex, was considered a major win for XRP holders.

It can be recalled that there were holders of the digital assets who used Twitter in campaigning for the relisting of XRP after a SEC lawyer implied, after a discovery hearing, that cryptocurrency exchanges were not in violation of securities laws for listing the virtual currency.

Ripple vs. SEC

Back in December 2020, the SEC sued Ripple Labs over XRP because of what it deemed as unregulated security.

The result was devastating for the XRP community, as many exchanges backed away from Ripple and delisted XRP from their trading platform. Not only that, but the lawsuit also caused the fintech to lose important partners such as MoneyGram. However, the latter clarified that it would be open to revisiting such partnership in the future.

The ongoing court wars have taken some ugly turns, resulting in both SEC and Ripple labs filing motions after motions to counter each other’s claims and accusations.

 

Image courtesy of Cointelegraph News/YouTube

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Source: https://bitcoinerx.com/blockchain/phemex-cryptocurrency-exchange-relists-xrp/