Despite the lawsuit against Ripple, the cryptocurrency platform Gatehub in the UK announced on January 12, 2020 that it will provide continuous buying and selling of XRP (Ripple) on the exchange’s platform. Gatehub uses the XRP Ledger platform and is backed by Ripple Labs co-founder Chris Larsen.

 

Gatehub continues to support popular cryptocurrency

In a statement released by the exchange and posted on its website, Gatehub will continue trading XRP until there is sufficient evidence that XRP is a security, or until the SEC receives a warning to stop trading XRP on its exchange and to give up.

As a continuation of a comprehensive check on the ongoing case, Gatehub explained why it supports Ripple and also expressed its belief in XRP’s potential.

Gatehub does not believe claims that XRP is a “security” as stated in the “Howey” test in the US, and sees XRP’s main use as a digital currency with a variety of uses. Also, XRP value is derived from its use as a payment instrument. In addition, there is no personal record of any abuse perpetrated by the team behind Ripple Labs or their senior executives.

Lawsuit between Ripple and SEC pending

The XRP community responded to legal action by filing a petition against the SEC. In the petition, the community is asking the Federal Government to recognize XRP as a currency and also to stop investigating XRP.

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Similarly, Ripple CEO Brad Garlinghouse confirmed that the Ripple Labs team will fight the SEC until the case is resolved, and also noted the possibility of transferring the Ripple Labs team headquarters to the UK.

Meanwhile, top cryptocurrency platforms like Coinbase, Binance, and OkCoin have removed XRP from their platform.

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