Key dealers
- SEC has removed rippling -related action from its website when the lawsuit moves to the appealed court.
- Civil measures removed from SEC items as Ripple requests on April 16, 2025, time limit for its appeal.
SEC has removed ripple -related civil action from its website as the trial progress To the Second Circuit appealed court, marks a critical step in the ongoing legal battle over XRP’s classification.
A user on x noted The “Sec website does not matter” and emphasized that the appeal remains active in the court’s nationwide Pacer system.
In identification as a lawyer, the user stated: “I logged in, and the last record is Ripple’s request for a time extension to submit his card. The fall status is still listed as “active”, but it can change soon. “
From 23 January 2025 Ripple has formally requested A due date on April 16, 2025, to submit its response card, according to an application from Ripple’s legal team.
This follows Sec’s January 15, 2025, Opening overviewWhere the agency tried to reverse important aspects of the previous decision, especially with regard to XRP sales to retail investors.
The district court previously decided that although XRP itself is not a security, Ripple’s direct sale to institutional investors constituted securities transactions.
The Court established that sales through secondary trading platforms did not qualify as securities. SEC now claims that retail investors would have expected profits based on Ripple’s marketing efforts.
“To do the same thing over and over again and expect different results,” Ripple CEO Brad Garlinghouse said about the appeal. Stuart Alderoty, Ripples Chief Legal Officer, characterized it as a “change of already unsuccessful arguments.”
The original civilian sentence of $ 125 million against Ripple remains in force, significantly less than Sec’s initial demand of $ 1 billion.
The case’s results at appeal level are expected to shape the regulations for digital assets and their classification in the United States.
