With the majority of the world’s leading cryptocurrency exchanges delisting the XRP token for its U.S. customers, Uphold seems to be taking a completely different approach. Despite SEC’s class-action lawsuit against Ripple, Uphold will continue to use XRP and allow trading until a final ruling is reached as confirmed by its CEO, JP Thieriot. Meanwhile, Uphold is not the only cryptocurrency exchange that has decided to continue trading for XRP. Other exchanges such as Indodax, BTC Markets, Bitrue, Revolt, and Biteeu too are waiting on the final verdict by the court before deciding on delisting the token from their platforms.
Uphold to Continue XRP Trading Until Final Ruling Reached
On Dec. 30 in a Twitter thread, Thieriot expressed that other crypto exchanges too should follow a similar stance rather than take matters into their own hands, even before the court’s final decision. He adds:
“Uphold will continue to list XRP until and unless the Complaint is adjudicated against Ripple specifically citing that XRP is, today, a security, or trading volume dissipates to a point where we can no longer support.”
Furthermore, the CEO also pointed out the significance of the lawsuit for the entire crypto market. Thieriot hopes that the due process resolution to the SEC v. Ripple dispute can both set a foundation for token offerings to go forward due to resultant clear cut regulatory frameworks.
Uphold CEO Criticizes SEC’s Actions Against Ripple
Meanwhile, Thieriot has also criticized SEC’s action against Ripple, resulting in financial damages that innocent third parties had to face. He believes that SEC’s action against Ripple is not justifiable as punishing the actions of a couple of parties not only directly harms XRP holders, but also threatens to harm participants in similar projects.
Moreover, it doesn’t come under SEC’s justification of protecting consumers as stated by the agency while filing the lawsuit against Ripple, saying:
“Can something be born a security and metamorphosize into something else? How is invoking billion-dollar losses for innocent third parties, as an ex-Commissioner of the SEC recently put it, in the interest of protecting consumers?”