- SEC opposes request for brand new proof in Ripple lawsuit, cites enchantment stage
- Decide Torres to resolve whether or not to simply accept new proof in ongoing Ripple case
The U.S. Securities and Trade Fee (SEC) has opposed a request to current new proof within the ongoing lawsuit towards Ripple Labs. Justin W. Keener submitted the petition to Ripple final week to obtain proof backing their protection case towards the lawsuit filed by the SEC. Decide Analisa Torres acquired a letter from the SEC on April 8, 2025, which opposed this request. This information was shared by a crypto journalist, Eleanor Terret, on her official X account.
SEC Asks Decide Torres to Reject Petition for New Proof in Ripple Lawsuit
The Securities and Trade Fee has solidified three essential objections relating to this petition. First, the request can’t be handled by the district court docket as a result of the case stays lively in its enchantment stage inside the Second Circuit. Authorized precedent prohibits courts from dealing with treatments and abstract judgment proposals after an enchantment course of begins.
Then again, Keener violated correct process in response to the SEC as a result of he didn’t file a movement to intervene. The courts deny entry of out of doors proof except formal intervention functions and court docket permissions are granted.
The SEC lastly contends that granting the request serves no objective. Ripple holds the duty, in response to the company, to evaluate whether or not recent proof will probably be vital to its ongoing case. The proof must be offered by Ripple to the court docket slightly than a 3rd social gathering, since it would assist the corporate in its case.
The SEC has submitted a proper request to Decide Torres for full rejection of any such movement. Decide Torres will resolve by means of her authority whether or not to grant or deny the movement earlier than him.
Since 2020 the SEC has carried out authorized proceedings towards Ripple Labs. The SEC argued that Ripple obtained greater than $1.3 billion from XRP gross sales. As a result of the SEC views XRP as an unregistered safety. The crypto trade carefully adopted this lawsuit. As a result of its ensuing choices will set new tips for regulating digital belongings within the trade.
XRP Buying and selling Quantity Surpasses $21.62 Billion Regardless of Ongoing Authorized Battle
In 2023, Ripple gained a partial victory when Decide Torres dominated that XRP was not a safety when offered to retail traders on exchanges. Nonetheless, she determined to categorize offers with institutional traders as securities transactions. The court docket determination was seen positively for Ripple, though the authorized proceedings involving this case proceed.
By way of social media in March 2025, Ripple CEO Brad Garlinghouse mentioned that the SEC would withdraw its enchantment as a result of he labeled it as a “resounding victory” for each Ripple and for your complete crypto market.
The authorized battle doesn’t appear to decelerate the rising buying and selling quantity of XRP. The long run buying and selling quantity of XRP on all digital exchanges exceeded $21.62 billion in a single month, as reported by crypto analyst Ali Martinez. This reveals that traders are more and more eager about cryptocurrency. The substantial enhance in XRP buying and selling quantity proves that this cryptocurrency maintains its place as an important participant within the crypto market throughout its regulatory battle.
As Ripple watches for Decide Torres to resolve if she’s going to settle for new proof into the case. The SEC insists on preventing the case with dedication because it awaits future court docket choices in regards to the case’s consequence. The outcomes of this explicit case will create binding authorized tips about cryptocurrency regulation in addition to digital asset definitions in the USA.