Coinbase users may now trade the cryptocurrency XRP in New York, as announced on Thursday by Paul Grewal, the chief legal officer of the exchange.
“We listened to you and worked hard in close collaboration with the State. And now that we are back online, the news may be spread,” Grewal said on social media.
Following Ripple’s legal action by the U.S. Securities and Exchange Commission (SEC), Coinbase banned XRP trading in January 2021.
After the court decided that secondary transactions of XRP were not securities last July, Coinbase proceeded to relist the contentious cryptocurrency alongside other exchanges. But up to this point, trading in New York was still not supported.
New York is renowned for having strict laws pertaining to cryptocurrencies. Operating in the state is particularly difficult for businesses because of its “BitLicense” system.
The Shiba Inu (SHIB) cryptocurrency was made accessible to Robinhood’s New York clientele last month.
