Ripple Advocate Demands NYDFS Explain XRP Delisting from Greenlist
Date: 2024-01-30 Author: Dima Zakharov Categories: IN WORLD
Investigating XRP Delisting
American lawyer James Murphy, a vocal supporter of Ripple, has taken action to uncover the reasons behind the removal of XRP from NYDFS's "Greenlist." This list previously comprised cryptocurrencies allowed for trading in New York.
The SEC and Ripple's Legal Battle
During a recent interview on the YouTube channel Digital Perspectives, Murphy highlighted the ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC). He pointed out a crucial decision by Judge Analisa Torres in July, which clarified that XRP's software sales were not considered securities.
NYDFS's Conflicting Actions
However, less than two months after Judge Torres's ruling, NYDFS removed XRP from its list of approved cryptocurrencies for trading in New York, leaving crypto investors and traders in the state unable to access or trade XRP on licensed platforms.
Demanding Clarity
Murphy found NYDFS's actions perplexing, considering the court's decision had provided some regulatory clarity regarding XRP. In an attempt to shed light on NYDFS's motives, Murphy urged the agency to disclose information about the removal of XRP from the "Greenlist" under the U.S. Freedom of Information Act (FOIA).
External Influences Suspected
Murphy speculated that external factors may have influenced NYDFS's decision, prompting him to demand that NYDFS provide all relevant information about interactions with federal agencies that could have influenced the delisting of XRP. He emphasized his intent to ascertain whether the SEC exerted any pressure or influence on NYDFS to remove XRP from the "Greenlist."
Call for Transparency
"I would like NYDFS to provide every document, piece of paper, text message, voicemail, video call, and anything related to the decision to exclude XRP from the 'Greenlist,'" stated Murphy.
NYDFS Remains Silent
As of now, NYDFS has yet to disclose the exact reasons for XRP's delisting. The department has already missed two deadlines, with another set for January 31. Murphy warned that if the agency continues to remain silent, he will take legal action against them.
A Legal Stand
James Murphy's efforts echo those of another American lawyer, John Deaton, who specializes in defending cryptocurrency companies. Deaton had also criticized the SEC for banning XRP while permitting payments in meme coins.
