SEC Adjusts Litigation Database, But Ripple’s XRP Lawsuit Remains
- SEC removed Ripple lawsuit from ‘Litigation Releases’, but legal experts confirm it’s ongoing.
- The case remains active in PACER and other SEC website categories, unaffected by database changes.
- Exr SEC Chair Gary Gensler returns to MIT, focusing on AI, fintech, and finance policy.
The Securities and Exchange Commission’s (SEC) litigation database has undergone recent modifications, prompting discussions about the status of its case against Ripple Labs. While the case information has been removed from the “Litigation Releases” section, legal experts confirm the lawsuit remains active and continues through the federal court system.
The case, initially filed in December 2020, accused Ripple Labs and its executives Brad Garlinghouse and Christian A. Larsen of conducting $1.3 billion in unregistered securities sales through XRP. Despite its removal from certain sections, the case documentation remains accessible under other categories on the SEC’s website, including ‘Award Claims’ and ‘Cases on Appeal.’ Providing clarity on the situation, Legal expert Jeremy Hogan of Hogan Hogan said,
It could be something within the SEC, but it has no bearing on the lawsuit. The court doesn’t care what the SEC does on its website.
This assessment emphasizes that website categorization changes do not affect the legal proceedings’ status. The case maintains its active status within PACER, the federal court’s electronic filing system, which serves as the authoritative source for federal court cases.
Related: Will XRP Show A Breakout on The Chart As Hinted By Analyst?
Meanwhile, former SEC Chairman Gary Gensler has transitioned back to academia, accepting a position at the Massachusetts Institute of Technology (MIT). As reported by Fox Business journalist Eleanor Terrett, Gensler will serve as Professor of the Practice in both the Global Economics and Management Group and the Finance Group.
Gensler’s new role at MIT will focus on artificial intelligence, finance, fintech, and public policy research and teaching. This return to academia is interesting, particularly given his previous stance on digital assets during his tenure at the SEC. His appointment raises questions about potential changes in his perspective on cryptocurrency regulation now that he has returned to the academic sector. The timing of these developments – the SEC website changes and Gensler’s career transition – occurs against the backdrop of changing cryptocurrency regulation in the United States.
The post SEC Adjusts Litigation Database, But Ripple’s XRP Lawsuit Remains appeared first on Cryptotale.
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