- Pro-XRP lawyer Bill Morgan has shed light on Coinbase’s decision not to list XRP.
- Morgan has suggested that Ripple should consider offering XRP-free products.
- Morgan has hinted that Ripple is diversifying its offerings in anticipation of a negative outcome in the legal case.
In a recent Twitter thread, pro-XRP lawyer Bill Morgan provided insight into why Coinbase, the largest cryptocurrency exchange, has refrained from relisting XRP.
According to Morgan, Coinbase’s decision not to list XRP is rooted in the legal case against Ripple, which has caused significant uncertainty regarding the regulatory status of XRP.
Morgan believes those who defended Coinbase’s decision made a clear distinction between the coins listed by Coinbase and XRP.
Morgan also argued that the uncertainty caused by the ongoing legal case against Ripple made it difficult for Coinbase to include XRP in its cryptocurrency offerings.
Ripple Diversifies to Hedge Bets Against SEC Allegations
If Ripple were to lose the case against the U.S. Securities and Exchange Commission (SEC), it is possible that the company would be injuncted from dealing with XRP in the US. This would be a major blow to Ripple’s operations, as the US is one of the largest cryptocurrency markets.
In this scenario, Ripple would need to consider other products and services that it could offer to continue operating in the US market.
Morgan suggested that diversifying its income and offering products that do not rely on the cryptocurrency is a good strategy for Ripple to consider if they lose the case.
This strategy would help Ripple continue its operations in the US in case the legal battle is unsuccessful. However, as of writing, there is still uncertainty regarding the regulatory status of XRP, and the case is ongoing.
Morgan also hinted that Ripple’s Liquidity Hub (LH) might be a manifestation of the company’s anticipation of a negative outcome in the SEC vs. Ripple lawsuit.
By offering the LH without XRP, Ripple is hedging its bets and preparing for the possibility that XRP may be injuncted in the US. However, if Ripple is successful in defending against the SEC’s allegations, there is a possibility that the cryptocurrency could be added to the LH in the future.
On the Flipside
- The pro-XRP stance taken by Bill Morgan, a lawyer who has previously worked with Ripple, may not be wholly impartial and could be influenced by his own interests.
- The XRP Ledger is decentralized, and its operations would not be affected even if Ripple lost the ongoing legal case against the SEC.
Why You Should Care
The recent comments by pro-XRP lawyer Bill Morgan on Twitter shed light on the ongoing legal case against Ripple. Morgan’s insights provide valuable information for Ripple, highlighting the difficulties faced by Coinbase in listing XRP due to the legal uncertainties surrounding the cryptocurrency.
To learn more about Ripple’s defense against the SEC’s fair notice claim, check out this article:
Ripple Strikes Back at SEC: Do They Have a Strong Defense in Fair Notice Claim?
For the latest news on the bullish technical breakout of Cardano’s ADA, read here:
Cardano (ADA) Bullish Technical Breakout – Could We See a 44% Surge?
Sourced from dailycoin.com.
Written by on 2023-04-17 12:15:00.
