Recently, the top legal brains from Ripple and Coinbase met off-site to address issues in the quickly developing cryptocurrency market. Stuart Alderoty, CEO of Ripple, expressed his gratitude to Paul Grewal, Chief Legal Officer of Coinbase, for making the time to meet with the Ripple legal team. Grewal tweeted his appreciation for the offer in return and recommended future encounters should be held more frequently.
The US Securities and Exchange Commission (SEC) is now dealing with legal issues involving Coinbase and Ripple.
In December 2020, Ripple received a complaint from a powerful regulator who claimed the business had sold XRP tokens in an unregistered securities sale.
The continuing court dispute has attracted a lot of interest from the cryptocurrency community and sparked concerns about the regulatory environment for digital assets.
cardThe SEC recently slapped Coinbase with a Wells notice, on the other hand. Grewal published a blog post last week outlining Coinbase’s reaction to the warning.
In the article, he made clear that Coinbase has not listed securities and that it is looking to the SEC for a clear legal framework before it does so in the future. Additionally, he said that even though Coinbase does not enjoy going to court against the SEC, the company will defend itself and uphold the law for all people.
It’s important to note that after the SEC filed its case, Coinbase delisted XRP, the cryptocurrency linked to Ripple. Whether the contentious coin will reappear on the biggest American cryptocurrency market is unknown.
