- There was excitement among the XRP Army earlier today after it appeared the SEC had removed any mention of its case against Ripple from its website, suggesting to some that the case may have been dropped.
- However, it soon became apparent the regulator’s case against Ripple is still listed in a public court database and remains very much active.
- The Ripple case is now in appeals court as the SEC seeks to overturn some aspects of previous rulings in the case: Ripple’s legal team expects it to be resolved this year.
The morale of the long suffering XRP army got a short-lived boost today after the Securities and Exchange Commission (SEC) removed all traces of its civil actions against Ripple from its website, triggering speculation that the case had been dropped.
However, some community members later claimed that the SEC’s actions against Ripple hadn’t been removed entirely, but rather they’d been moved to the ‘appeals’ of the regulator’s website. This sparked confusion, as it seems the SEC website doesn’t actually have an ‘appeals’ section.
Luckily, the attorney and long time watcher of the SEC’s cases against Ripple, Jeremy Hogan, stepped in to clarify. Hogan confirmed that the SEC had removed the Ripple case from its litigation page, but (sadly for XRP army conscripts) he also confirmed that the Public Access to Court Electronic Records (PACER) legal database continues to list the actions against Ripple, indicating the case is still active.
Hogan further explained in a later comment that the website change may indicate something relating to the Ripple cases is happening inside the SEC, but as far as the courts are concerned nothing has changed:
It could mean something internally at the SEC, but it doesn’t affect the lawsuit one way or another. The Court doesn’t care what the SEC does on its website.
Jeremy Hogan, Attorney and Ripple EnthusiastThe XRP Army is left to speculate on what, if anything, the SEC website changes mean — does the removal of the Ripple actions suggest the regulator is close to dropping its case, or is it a routine website update that doesn’t signify anything?
Related: Ripple Gains Money Transmitter Licences in Key US Markets
Ripple Case Now In Appeals Court
For now, the case against Ripple continues through the US appeals court. The most recent developments in the case came just this month:
- On January 15 the SEC filed its opening brief in its effort to overturn some of the court’s previous rulings in the case, in particular the finding that sales of XRP to retail investors do not constitute sales of securities.
- According to Ripple’s legal team, as of January 23 Ripple has formally requested a deadline of April 16 to file its own response brief.
Related: Chicago Mercantile Exchange Set to Launch XRP and Solana Futures on February 10, Pending Approval
Despite the SEC’s continued action against Ripple the company’s Chief Legal Officer, Stuart Alderoty, said recently that he expects the legal fight to soon be over and that it’s now mostly just noise:
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