SEC vs Ripple: The Legal Drama That’s More Confusing Than a Russian Novel 🎭

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The XRP lawsuit, that never-ending legal saga, has taken yet another bewildering turn, leaving even the most seasoned legal minds in a state of mild bewilderment. The U.S. SEC, in a letter to Judge Analisa Torres, has declared that the Ripple lawsuit is now firmly in the appeal phase. The agency, with the solemnity of a bureaucrat who’s just discovered a misplaced comma, urged the court to reject an emergency filing from Justin Keener—a man previously sued by the SEC—who claimed to possess “decisive evidence” in the case. 🕵️‍♂️

According to the SEC, such a request is as improper as a bear in a ballroom, as the district court no longer has authority over the matter, which is now being reviewed by the Second Circuit Court of Appeals.

Crypto lawyer Bill Morgan, with the air of a man who’s seen too much, recently pointed out a peculiar contradiction in the Ripple vs SEC case that’s raising fresh doubts about the actual status of the lawsuit.

Such an odd thing that Ripple say the Appeal and Cross-Appeal is settled but the SEC writes to Judge Torres that the matter is still on appeal. Settled but not quite over.

— bill morgan (@Belisarius2020) April 9, 2025

The Mysterious Filing and SEC’s Reaction

It all began when Justin W. Keener, a man with a penchant for legal trouble, submitted a surprise filing in the Ripple case. Keener, with the confidence of a man who’s just discovered a secret passage in his house, claimed he had key evidence that could sway the lawsuit. Legal analysts, however, dismissed it as irrelevant, with some even labeling it “spam.” The SEC, with the patience of a saint, responded by saying the filing was improper and should be denied because the case is still under appeal. And thus, the confusion deepened. 🤔

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Wait—Is the Appeal Still Alive?

The SEC’s official response stated that the court no longer has jurisdiction over the matter because it’s still being appealed. But Ripple had previously told the court that both the SEC’s appeal and Ripple’s cross-appeal were settled. This contradiction, which Bill Morgan aptly described as “odd,” is now fueling more uncertainty around the final outcome. One community member, Danny, hinted that something major could be happening behind the scenes, pointing to the urgency of the mysterious emergency filing. 🕵️‍♂️

Why It Matters

This isn’t just a paperwork issue. The XRP lawsuit is a big deal for the entire crypto market. How it ends could shape how U.S. regulators treat other digital assets in the future. With one side saying the legal battle is settled and the other claiming it’s still ongoing, there’s more confusion than clarity at the moment. It’s like watching a play where the actors forgot their lines. 🎭

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FAQs

Is the Ripple vs SEC lawsuit still ongoing in 2025?

Yes, the SEC confirmed the case is still under appeal with the Second Circuit Court, contradicting earlier reports of a settlement.

What is the latest update in the XRP lawsuit?

The SEC denied an outside emergency filing, saying the case is in active appeal and outside the district court’s jurisdiction.

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2025-04-09 15:09