BitBuy, a leading Canadian cryptocurrency exchange, has quietly relisted XRP, marking a significant shift in its stance toward the asset following its 2021 delisting. This move positions BitBuy as the second Canadian platform to reintroduce XRP trading, signaling growing confidence in the asset's regulatory clarity.
Key Highlights of the Relisting
- Quiet Rollout: BitBuy reinstated XRP support without a formal announcement, as first noted by XRP community influencer Mason Versluis.
- Mobile App Integration: The exchange's app now fully supports XRP trading, alongside an updated Crypto Assets Statement reflecting the change.
- Community Reaction: Canadian XRP holders have confirmed successful purchases, celebrating the renewed access.
Background: BitBuy's Initial Delisting
In December 2021, BitBuy cited compliance with Canadian regulations as the reason for delisting XRP, effective January 2022. The exchange had pledged to "react appropriately" if circumstances evolved—a promise fulfilled by this relisting.
Implications for the Ripple vs. SEC Case
The timing fuels speculation about the impending ruling in Ripple's legal battle with the SEC. Industry observers suggest BitBuy’s decision might reflect insider confidence in a favorable outcome for XRP.
- Previous Predictions: Ripple CTO David Schwartz anticipates a ruling by September 2023.
- Legal Perspectives: Attorney John Deaton emphasizes that delays are routine and not cause for concern.
XRP's Exchange Support Landscape
While Newton (Canada) was the first to relist XRP in late 2022, U.S. platforms like Coinbase remain hesitant. Coinbase’s Chief Legal Officer, Paul Grewal, stated the exchange would require further evaluation post-ruling before reconsidering XRP.
FAQs
1. Why did BitBuy delist XRP originally?
BitBuy acted in alignment with Canadian regulatory guidance amid the SEC's lawsuit against Ripple.
2. What does XRP's relisting suggest about its legal status?
The move hints at growing institutional confidence in XRP’s regulatory clarity, though no official ruling has been issued.
3. Can U.S. investors trade XRP on BitBuy?
No. BitBuy serves only Canadian customers. U.S. investors may access XRP via platforms like Uphold.
👉 Explore XRP trading on regulated platforms
Conclusion
BitBuy’s reversal underscores the dynamic interplay between cryptocurrency exchanges and regulatory developments. With the Ripple case nearing resolution, the industry watches for broader relistings—potentially reshaping XRP’s market accessibility.
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Disclaimer: This article does not constitute financial advice. Conduct independent research before investing.
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