The U.S. SEC has removed its press release regarding the Ripple lawsuit from its website, sparking settlement rumors among crypto enthusiasts. In a recent X post, crypto expert Ash highlighted the SEC’s removal of the Ripple lawsuit press release. A search for “Ripple” on the SEC’s Litigation Release page now shows no results. This page typically lists litigation releases for civil actions filed in federal courts.
The SEC had announced its lawsuit against Ripple on December 22, 2020, in a New York district court. However, the press release is no longer available, leading to widespread speculation about the case’s status.
Community Notes Clarify the Move
Despite the rumors, X users clarified through Community Notes that the SEC’s action does not imply case resolution. The Ripple lawsuit has progressed to the Court of Appeals for the Second Circuit. The SEC’s Litigation Release section focuses on cases in federal district courts, and the removal aligns with this protocol.
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Similar actions have occurred in other cases that moved to appeals courts. For example, the SEC removed press releases about its enforcement action against Aaron Govil when that case transitioned to the appeals court.
Ripple Case Continues in Second Circuit
The Ripple lawsuit remains active in the Court of Appeals. The SEC filed its opening brief on January 15, 2025, seeking to overturn the district court’s decision that granted Ripple a partial victory. Ripple plans to respond on April 16, 2025, aiming to defend its earlier win.
Related article: Ripple CEO Criticizes 60 Minutes for Omitting Key XRP Ruling
Ripple also plans to challenge the ruling on its XRP sales to institutional clients. The district court had declared these sales as investment contracts and fined Ripple $125 million in 2023. The company seeks to overturn this decision in the appeals court.
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The legal battle between Ripple and the SEC continues to shape the crypto industry, with no resolution in sight.