SEC Removes Ripple Lawsuit, Shifts Focus to Appeals Court

The U.S. Securities and Exchange Commission (SEC) has removed the Ripple lawsuit from its website as the case moves to the appeals court. This development comes after Judge Analisa Torres' landmark ruling in December 2024, which distinguished between institutional and retail sales of XRP, establishing that certain tokens are not inherently securities when sold to retail investors on exchanges.

The SEC's decision to remove the lawsuit from its website suggests a shift in the agency's stance on the case, which has been a contentious issue in the cryptocurrency industry. The removal follows the SEC's filing of an appeal brief challenging Judge Torres' earlier ruling, indicating that the agency is not ready to concede the case.

The Ripple lawsuit, initially filed in 2020, alleged that XRP, the native cryptocurrency of the Ripple network, was an unregistered security. The case has had significant implications for the cryptocurrency industry, as the outcome could set a precedent for the classification of other digital assets.

The removal of the lawsuit from the SEC's website does not necessarily mean that the agency has dropped the case. Instead, it suggests that the SEC is focusing its efforts on the appeals process, where the case will be reviewed by a higher court. The outcome of the appeal could have far-reaching implications for the cryptocurrency industry and the regulatory landscape surrounding digital assets.