Regulation
Legal Expert Confirms Ripple SEC Case Still Active Despite Website Changes
The Ripple SEC case remains active despite recent changes to its categorization on the SEC’s website. Legal experts have however confirmed that the lawsuit continues in court, despite rumors of its removal from the regulator’s site.
Ripple SEC Case Still Listed on Official Channels
Rumors emerged that the SEC had taken down the information about the lawsuit against Ripple Labs from its website. Some pointed out that the case was no longer listed in the “Litigation Releases”, while other crypto-linked cases, including those against Coinbase, remained there.
Nevertheless, it is still possible to find the Ripple SEC case file under other sections of the website, including “Award Claims” and “Cases on Appeal”. Hogan & Hogan lawyer Jeremy Hogan agreed with this on X (previously Twitter), saying,
“It could be something within the SEC, but it has no bearing on the lawsuit.” The court doesn’t care what the SEC does on its website.”
The SEC first filed the case in December 2020 and accused Ripple Labs and its executives, namely Brad Garlinghouse and Christian A. Larsen, of conducting $1.3bn unregistered securities sales through XRP, the company’s native cryptocurrency.
Ripple SEC Case Status Unaffected in Court
Despite the changes that have been made on the SEC website, which led to speculations that the case may be dismissed, the case is still on. The case is filed in PACER, the federal court’s electronic filing system and there has been no change in the status of the case.
The recent schedule order from the U.S. Court of Appeals has put time limits on the appeal processes in the Ripple SEC case. The matter is that Ripple and its executives are obliged to file their briefs before April 7, 2025; otherwise, the appeals will be denied. As legal commentators have pointed out, this supports the contention that the case continues, regardless of changes to the website.
The case has been unpredictable with both the parties having been granted favorable judgments at one time or the other. In a 2023 decision, a judge said that retail sales of XRP by Ripple were not a violation of the securities laws while the institutional sales were. This led to Ripple having to pay $125 million in fines and both parties appealed some of the ruling.
Website Changes Spark Debate Over Regulatory Shifts
The changes to the SEC website come amid growing discussion among industry participants about what the SEC is likely to focus on under the Trump administration. Several people on social media platforms have opined that by taking Ripple’s case off one part of the SEC website, the SEC might be changing tactics.
”Is Ripple free from the SEC?” an influencer on X posted. When I searched for ‘Ripple’ in the litigation section, do you know what I found? Nothing! This raised the question as to whether the SEC might be planning on dismissing the case outright.
Amid these developments, large cryptocurrency holders, known as whales, have reportedly purchased 120 million XRP tokens. The purchases coincided with a statement from a former Ripple executive, who hinted at upcoming positive developments for the Ripple community.
Kelvin Munene Murithi
Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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