Thomas Daniels
The dispute may be coming to a close, according to social media speculation that the U.S. Securities and Exchange Commission (SEC) had taken Ripple’s civil action off from its website. Experts have verified that the case is still available online, but under altered headings on the SEC’s website.
When social media users noticed that Ripple’s case was no longer included in the SEC’s website’s “Litigation Releases” section, the debate started. Lawsuits against other companies, like Coinbase, however, were still discernible in that group. This sparked speculation that the SEC might be getting ready to abandon the well-known case completely.
The Ripple Case Was Discovered Under New Types
After looking into the allegations, Crypto.news verified that the Ripple case is still listed on the SEC website. It currently appears, nevertheless, under the headings of “Award Claim” and “Cases on Appeal.” Legal experts emphasize that such revisions have no material relevance for the legal proceedings, even though the grounds for this categorization are yet unknown.
Commenting on the matter on X (previously Twitter), Jeremy Hogan, a well-known lawyer at Hogan & Hogan, clarified that changes to the SEC’s website would not have an impact on the legal matter. It has no bearing whatsoever on the litigation, but it might have internal SEC implications. In response to the online discussion, Hogan stated, “The court doesn’t care what the SEC does on its website.”
Context of SEC v. Ripple
In December 2020, the SEC filed a lawsuit against Christian A. Larsen, executive chairman, and CEO Bradley Garlinghouse of Ripple Labs. The corporation was accused by the agency of using its native coin, XRP, to execute $1.3 billion in unregistered securities sales.
Both sides have claimed partial victory in the drawn-out court struggle. A judge decided in 2023 that while institutional sales of XRP violated federal securities laws, retail purchases did not. Ripple was forced to pay $125 million in fines as part of the ruling. Since then, the SEC and Ripple have both submitted appeal motions contesting certain aspects of the ruling.
Reduced Crypto Enforcement Rumors
There are larger speculations that the SEC may reduce its crypto enforcement proceedings, which align with the prediction that Ripple’s lawsuit may be withdrawn. Litigation against cryptocurrency companies that are not directly involved in fraud may be deprioritized under President Donald Trump’s chairmanship of the SEC, according to reports.
Although these rumors have been stoked by the SEC’s recent website modifications, no formal declarations have been made indicating a shift in the regulator’s position on Ripple or other enforcement actions pertaining to cryptocurrency.
