Ripplev. SEC: Official Stock Important Reminders

On Friday, the SEC filed a status report with the Court of Appeals, saying the parties had filed a joint provision for dismissal of the appeal.

Remember, on August 7, the SEC filed a joint dismissal provision with the Second Circuit’s U.S. Court of Appeals for the Second Circuit, signing with defendants Ripple Labs, Brad Garlinghouse and Chris Larsen.

As a joint provision for dismissal was filed in the U.S. Court of Appeals in the Second Circuit, the awaited court’s approval would come from that, not from the district court that brought Justice Torres to the matter.

Former SEC Regional Director Marc Fagel will issue reminders in line with these policies amid online speculation of the court’s decision awaited by Judge Torres in the Ripple case. Fagel writes in response to one such speculation about X: “Reminder: Judge Torres has nothing to do with this case.”

Ripple case over

As reported, XRP enthusiast and legal counsel Bill Morgan called a form that does not affect the past developments of the Ripple SEC case in a recently filed status report.

The SEC sued Ripple in December 2020, claiming it sold the XRP tokens without registering them as securities first. Ripple and Sec agreed to dismiss their appeal, leading the case to an effective conclusion.

Ripple declared the end of a five-year-old lawsuit, Ripple’s chief just after the joint provisions for dismissal were filed, and said the dismissal was listed as “end” of the lawsuit.

The SEC has also dismissed the lawsuit filed against Crypto Exchanges Binance, Coinbase and Kraken.