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HomeCrypto NewsMarketHere’s Why SEC Removed Ripple Case From Its Website

Here’s Why SEC Removed Ripple Case From Its Website

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The U.S. SEC has removed the civil action against Ripple from its website, eliciting rumors of potential settlement among crypto enthusiasts.  

In a recent X post, popular crypto expert Ash called the public’s attention to a recent development concerning the SEC v. Ripple lawsuit. According to the post, the lawsuit’s press release has been removed from the SEC website. 

The accompanying image showed that a search of Ripple on the SEC’s ‘Litigation Release’ page returned no result. For context, this section contains links to litigation releases concerning all civil actions the SEC has filed in federal courts. 

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On December 22, 2020,  the SEC announced that it sued Ripple in a New York district court. However, this announcement has been removed from the SEC’s litigation press release, stirring speculations that the commission’s lawsuit against XRP might be over. 

Reason Behind Removal  

However, X users added context to the post through the Community Notes feature. The context revealed that the SEC removed the Ripple lawsuit announcement from its website because the case has progressed to the Court of Appeals for the Second Circuit. 

The Litigation Release section of the SEC website usually focuses on civil actions filed in federal district courts. Since the SEC has filed the case in the Second Circuit, it chose to remove it from this section.

A similar development has been spotted in other cases that moved to the court of appeals from a lower court, including the commission’s enforcement action against Aaron Govil. 

Ripple Case Still Active in Second Circuit 

Therefore, the removal of the Ripple lawsuit’s press release does not indicate a resolution of the case, as many community members suggested. As of today, the case is still active in the Court of Appeals for the Second Circuit. 

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The SEC filed its opening appeal brief on January 15, 2025, to overturn the district court’s ruling, which granted Ripple a partial victory regarding the company’s programmatic sales and other distributions of XRP. 

Notably, Ripple is seeking to file its response on April 16, 2025. If approved, the company will submit its reply brief on April 16, addressing the SEC arguments and ensuring the Second Circuit upholds its victory. 

The company will also attempt to overturn the district court’s ruling regarding its sales of XRP to institutional clients, which were initially declared as investment contracts in 2023. Notably, the court fined Ripple $125 million for this violation. 

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

Author

Lele Jima
Lele Jima
Lele Jima is a cryptocurrency enthusiast and journalist who is focused on educating people about how the nascent asset class is transforming the world. Aside from cryptocurrency-related activities, Jima is a lover of sports and music.

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