Ripple’s legal battle with the U.S. Securities and Exchange Commission (SEC) has taken a new turn. Observers recently noticed that the Ripple lawsuit was deleted from the SEC’s litigation section, leading to speculation that the case had been dismissed.
This discovery fueled discussions among the XRP community, with many questioning whether the long-standing legal dispute had finally ended.
Also Read: Big Win for XRP: Ripple Scores Major U.S. Payment Licenses, Details
Ripple Case Found Under New SEC Category
Further investigation revealed that the case was not deleted but moved to a different section on the SEC’s website. The lawsuit is now categorized under “cases on appeal,” confirming that legal proceedings remain ongoing.
Existing Ripple vs. SEC case file on the SEC website
Additionally, attorney Shell Avocat weighed in on the matter, emphasizing that the SEC’s website does not determine the case’s status and stating that the lawsuit remains open in the Court’s nationwide PACER system.
Logging into the system, Avocat found that the last recorded entry was Ripple’s request for a time extension to file its brief. The case is still listed as “Active,” though this status may change soon.
The case, initially filed in December 2020, accused Ripple and its top executives of conducting $1.3 billion in unregistered securities offerings through XRP.
After years of litigation, a judge ruled that XRP sales to retail investors did not violate federal securities laws, while institutional sales were deemed unregistered securities transactions.
Consequently, Ripple was ordered to pay a $125 million fine. Both parties have since appealed aspects of the decision, leading to further legal proceedings.
XRP Community Reacts to Legal Update
The XRP community closely monitors legal developments, with several key figures commenting on the latest updates. Crypto-focused attorney Jeremy Hogan responded to discussions surrounding the case’s disappearance from the SEC’s website.
He confirmed that the case had been relocated to the appeal section, clarifying that the legal battle is far from over. Community members expressed their reactions on social media, with some speculating that the SEC’s removal of the case signaled a resolution.
Others remained cautious, pointing out the ongoing appeals process. Legal experts, such as Shell Avocat, reassured the community by verifying the case’s active status in the PACER system, providing clarity amid speculation.
Also Read: Here is Why Ripple Requested a New Deadline in the SEC Lawsuit: Time for Possible Resolution?
