It’s been about ten months since the US SEC cracked down on Ripple and its cryptocurrency, XRP, stating what some investors have been saying for years: XRP is an unregistered security. The move resulted in Ripple and XRP losing supporters and even seeking new markets in the east, particularly Europe and East Asia.
However, as time has passed and the case between the two has become more complex, Ripple appears to have actually managed to start taking over the regulator. At least, that’s what the Japanese TaoTao exchange seems to believe.
TaoTao restores XRP
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According to recent relationships, Japanese cryptocurrency exchange TaoTao recently announced that it is relisting XRP, as the market is increasingly confident that the company can defend itself against the regulator’s allegations.
There is no doubt that the case against Ripple had far-reaching consequences for the coin, which even lost its iconic third place on the list of the largest cryptocurrencies, and has since dropped to seventh on the list. But, as support for XRP appears to be returning, it is also likely that the coin may soon begin to see a significant improvement in price.
It is important to note that nothing is yet certain regarding the SEC v. Ripple case. The ruling could help or destroy Ripple and XRP, turning them into one of the heroes of the crypto industry or another project that has fallen under the regulator.
The significance of the legal battle becomes clear when we look at how other major exchanges have performed against XRP. The likes of OKEx, Coinbase, Kraken and the like, who are trying to be as regulatory compliant as possible, have distanced themselves from XRP once the case is launched.
Not to mention MoneyGram, which not only ditched its partnership with Ripple, but said it never used its technology in the first place. For now, the future remains unclear, but TaoTao’s move could have significant consequences for the future, as it could inspire others to consider relisting XRP.
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