The SEC has removed the civil lawsuit related to Ripple from its website, and the case has been transferred to the appeals court.

As the lawsuit between the SEC and Ripple moves to the Second Circuit Court of Appeals, the SEC has removed the civil suit related to Ripple from its website, marking a critical phase in the ongoing legal battle surrounding the classification of XRP.

However, a user on X pointed out that "the SEC website doesn't matter," emphasizing that the appeal is still valid in the national PACER system of the courts. The user, who claims to be a lawyer, stated: "When I logged in, the last record was Ripple's request for an extension to submit briefs. The case status is still 'ongoing', but that may change soon."

According to documents submitted by Ripple's legal team, Ripple has formally requested to submit its response brief by April 16, 2025, with a deadline set for January 23, 2025.

The SEC released its opening brief on January 15, 2025, attempting to overturn key aspects of the previous ruling, particularly concerning the sale of $XRP to retail investors. The district court previously ruled that while $XRP itself is not a security, Ripple's direct sales to institutional investors constituted a securities transaction. Tokens sold through secondary trading platforms do not meet the securities standard. The SEC now argues that retail investors expected to profit based on Ripple's promotional activities.

"Doing the same thing over and over again, but expecting different results," said Ripple CEO Brad Garlinghouse when discussing the appeal. Ripple's Chief Legal Officer Stuart Alderoty described it as "a rehashing of arguments that have already failed."

The initial civil fine of $125 million against Ripple remains effective, which is significantly lower than the SEC's initial demand of $1 billion. The outcome of the case at the appeal stage is expected to impact the regulatory framework for digital assets and their classification in the United States. (Crypto Briefing)