Research Company Diar: XRP Violates Coinbase’s Listing Rules
Blockchain research company Diar claims that Ripple is violating the Coinbase listing rules. Despite this, the exchange added cryptocurrency to its platform for professional traders.
Earlier this week, the US crypto exchange Coinbase announced the addition of Ripple to the listing on its professional trading platform Coinbase.com.
Research company Diar claims that Coinbase violated one of its fundamental rules. The listing policy of the exchange states that the development team and managers should control only a minor share of cryptocurrency if the coin wants to get on the Coinbase platform.
Ripple controls over 60% of the XRP supply, according to Diar, and it is a major share.
Another risk is that XRP can be recognized as securities, at least in the US. This can cause legal problems for Coinbase.
According to Coinmarketcap, Ripple is 3rd crypto by market capitalization, which at the time of publication exceeds $13 billion. Coinbase plans to allow XRP to be traded with BTC, US dollar and euro. Only professional traders from the US, UK, EU, Canada, Singapore, and Australia will be able to try new trading option.