AssetsAug 16, 2023

Gemini has restored Ripple trading on its trading platform

The well-known digital currency exchange founded by the Winklevoss brothers has issued a statement that its users can deposit XRP tokens again.

After two days of a series of speculations fueled by a mysterious Twitter post, the Gemini platform confirmed that it will resume accepting deposits in the digital currency belonging to the Ripple project. It is worth noting that earlier a journalist from the cryptocurrency industry asked this popular platform if it was considering re-supporting XRP after a partial victory in a lawsuit over the SEC.

Gemini is bringing XRP back to its platform

In its latest announcement, the digital currency exchange, which was founded by the Winklevoss brothers, indicated that it will only accept XRP deposits at the moment. However, the American company is working on including trading pairs related to this cryptocurrency in the near future.

The cryptocurrency exchange mentioned above also asked its customers to update their mobile application to enable the launch of the new feature.

At this stage, it is worth being aware of the fact that Gemini is one of the many cryptocurrency companies that have decided to take XRP back on board. This happened after the company behind this digital currency had previously fought a long-term court battle with the US financial market regulator.

In a court order issued on July 14, 2023, District Judge Analisa Torres stated that Ripple cannot in any way be considered a security if it is traded in secondary markets. After the above-mentioned judgment, several well-known digital currency exchanges, including Kraken, Bitstamp, but also, decided to restore the availability of XRP.

An important circumstance related to the dispute between Ripple and the SEC may be that the US regulator has signaled its intention to challenge the decision taken by Analisa Torres. As a result, an appeal is expected in the near future.

Due to its partial win, Ripple Labs began to face an ever-increasing level of acceptance in the financial mainstream. It should be recalled that this company became a member of the cross-border payments task force of the Bank for International Settlements (BIS).