Ripple case present on SEC site despite speculation

Social media speculation suggested Ripple’s civil case was scrubbed from the SEC’s website, but experts stressed that online changes were immaterial in court.

Reports that the U.S. Securities and Exchange Commission removed Ripple’s civil lawsuit from its official website flooded social media debates, fueling rumors that the regulator may soon end the case completely.

However, crypto.news confirmed that the Ripple case is still accessible on the SEC’s website, though it now appears under different categories.

Social media users noted that while the Ripple case was no longer listed in the “Litigation Releases” section, other cases, such as those involving Coinbase, remained visible there.

Meanwhile, the SEC v Ripple Labs, Inc., Bradley Garlinghouse, and Christain A. Larsen case file could be viewed in the “Award Claim”  and “Cases on Appeal” categories of the agency’s website.

It’s unclear why the SEC made these changes, but lawyer Jeremy Hogan of Hogan & Hogan asserted that on X the court case would be unimpacted by the switch.

“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,” Hogan tweeted, responding to the chatter.

SEC v Ripple

In December 2020, the SEC accused Ripple, CEO Garlinghouse, and executive chairman Larsen of conducting $1.3 billion in unregistered securities via the company’s native token (XRP).

The multi-year legal battle resulted in a partial victory for both parties. A judge ruled that retail XRP sales did not violate federal securities laws, while institutional offerings did. Ripple was ordered to pay $125 million in fines, and both parties have filed appeal motions.

Rumors of the SEC removing Ripple’s case from its website were also probably spurred by plans to scale back crypto-related enforcement action at the watchdog. Under President Donald Trump, the SEC is expected to halt litigation against companies not directly involved in fraud.

Related Posts

Bitcoin L2 Hemi captures $260m TVL ahead of mainnet launch

While Bitcoin L2s recently witnessed outflows, a new protocol called Hemi amassed more deposits on its private mainnet network. Hemi, a Bitcoin (BTC) layer-2 protocol founded by early blockchain developer…

OpenSea Airdrop Website Highlights Potential Risks of One-Sided Terms and Conditions

Key Points OpenSea NFT Marketplace recently received backlash after an alleged airdrop portal. Now, the website is unavailable. OpenSea found itself surrounded by controversy following an alleged airdrop portal that…

Leave a Reply

Your email address will not be published. Required fields are marked *