In a surprising development, it appears that the SEC has dropped its lawsuit against Ripple without any announcement. The Commission has removed references to this lawsuit from its website, although other cryptocurrency lawsuits are still displayed.
At least one lawyer believes the lawsuit is still listed on more restricted/official channels, but this may or may not change.
Has the battle between Ripple and the SEC ended?
The Ripple vs. SEC case has been one of the biggest hotspots in the cryptocurrency field since it was filed four years ago. For example, rumors of a settlement between the two parties have driven a strong rally in Ripple's XRP token.
Since President Trump's victory in November, XRP has risen over 400%, with the expectation that the lawsuit would be dismissed under the new administration. However, the SEC has recently appealed against Ripple, suggesting the case could drag on longer.
However, today, social media users noticed that the SEC's website has removed all references to this lawsuit.
"Has Ripple escaped the SEC? Searching 'Ripple' in the SEC's litigation section and... No results! Has the legal battle ended? Is this the final chapter of XRP vs. SEC? If so, this could be a historic moment for XRP,"
John Squire stated on X (formerly Twitter).
If true, this would be a significant milestone for the cryptocurrency industry. First, it would be a real testament to the pro-industry shift in federal regulatory agencies since Trump took office.
Ripple's CEO, Brad Garlinghouse, has recently mocked former SEC Chairman Gary Gensler for prolonging this lawsuit. Perhaps this view has been proven right as the new SEC has dropped the lawsuit.
The SEC has delisted the Ripple lawsuit. Source: SECCommentators have also noted that other lawsuits, such as the one against Kraken and Coinbase, are still on the website. However, the developers are not yet clear. For example, a lawyer has used their access to argue about the significance of this listing:
"The SEC website doesn't matter. The appeal is still open in the nationwide PACER system of the Courts. I just logged in. The latest entry is Ripple's request for an extension of time to file the Summary. The status of the lawsuit is still shown as active,"
he stated.
However, he also acknowledged that this status could change soon. This rumor about the SEC is very new, so it has not yet significantly impacted the price of Ripple's XRP token.
Overall, most industry experts believe it is only a matter of time before this lawsuit is officially dismissed. With this shift in financial regulatory agencies, the SEC and other U.S. regulators are expected to scale back their cryptocurrency enforcement efforts.
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