The post Ripple News: XRP Surges as SEC Removes Lawsuit Information from Website, Legal Expert Clarifies appeared first on Coinpedia Fintech News
The ongoing legal battle between the U.S. Securities and Exchange Commission (SEC) and Ripple has entered a crucial phase, with the SEC removing Ripple-related civil actions from its website. This move comes as the lawsuit advances to the Court of Appeals for the Second Circuit, marking a significant stage in the dispute over the classification of XRP.
Legal analyst Jeremy Hogan clarified the situation, explaining that while the Ripple case has been removed from the SEC’s litigation section, it has simply been moved to the “cases on appeal” section of the website. However, he pointed out that the case is still listed on the appellate court’s website, and no new filings have been made yet.
As of January 23, 2025, Ripple has formally requested an extension, setting a due date of April 16, 2025, to file its response brief. This follows the SEC’s January 15, 2025, filing, in which the agency sought to overturn key aspects of the prior district court ruling. Specifically, the SEC is challenging the decision regarding XRP sales to retail investors. The district court previously ruled that while XRP itself is not a security, Ripple’s direct sales to institutional investors were deemed securities transactions.
Another user who identified as a lawyer wrote, “The SEC website does not matter. The appeal is still open in the Court’s nationwide PACER system. I am an attorney. I just logged in. The last entry is Ripple’s request for a time extension to file its Brief. The case status is still shown as “Active.” That may change soon.”
Amid the SEC chaos, Ripple CEO Brad Garlinghouse recently shared his thoughts on the crypto market, calling for an end to maximalism and urging the industry to work together. Garlinghouse, who holds XRP, Bitcoin, and Ethereum, said that the crypto space needs to embrace multiple assets for long-term growth.
Meanwhile, in broader crypto news, former Treasury Secretary nominee Scott Bessent, known for his pro-Bitcoin stance, has been confirmed. This adds to the growing number of pro-crypto politicians entering the scene, signaling a more crypto-friendly environment in the U.S.