PANews reported on January 29 that as the lawsuit between the U.S. SEC and Ripple entered the Second Circuit Court of Appeals, the SEC has deleted the civil lawsuit related to Ripple from its website, marking a critical stage in the ongoing legal battle over XRP classification.

However, one user on X noted that the “SEC website is not important,” and stressed that the appeal is still active in the court’s national PACER system. The user, who identifies himself as an attorney, said: “I logged in and the last record was Ripple’s request for an extension of time to file briefs. The case status is still ‘ongoing’, but it may change soon.”

According to documents filed by Ripple's legal team, as of January 23, 2025, Ripple has formally requested a response brief to be submitted by April 16, 2025.

The SEC released its opening brief on January 15, 2025, in which the agency seeks to overturn key aspects of its previous ruling, particularly regarding sales of XRP to retail investors. The district court previously ruled that while XRP itself was not a security, Ripple's direct sales to institutional investors constituted securities transactions. Tokens sold through secondary trading platforms did not meet the standards of securities. The SEC now argues that retail investors expected to make profits based on Ripple's promotional activities.

“You’re doing the same thing over and over again and expecting different results,” Ripple CEO Brad Garlinghouse said of the appeal. Ripple Chief Legal Officer Stuart Alderoty described it as “a rehash of arguments that have already failed.”

The original $125 million civil penalty against Ripple remains in effect, far less than the $1 billion the SEC originally requested. The outcome of the case at the appeal stage is expected to affect the regulatory framework for digital assets and their classification in the United States. (Crypto Briefing)