Home Business Unrest in Ripple lawsuit: Lawyers withdraw from XRP fight

Unrest in Ripple lawsuit: Lawyers withdraw from XRP fight

Unrest in Ripple lawsuit: Lawyers withdraw from XRP fight

Last month, Ripple (XRP) won a nice victory in its lawsuit before the US Securities and Exchange Commission. However, the litigation is far from over. The SEC filed multiple appeals against the judge’s decision.

It is certainly not quiet about the lawsuit either. In filings filed with the judge on Wednesday, the SEC is asking for the withdrawal of two attorneys. One is based on health concerns, the reason for the second withdrawal is unknown. The first application is granted immediately, but the second application has yet to be examined by the court.

Lawyers withdraw from Ripple case

The withdrawal of a third lawyer was also requested on Wednesday before. This request was also accepted. The SEC has since appointed two new attorneys. The Ripple Camp also participates in this musical. Ripple CEO Brad Garlinghouse also applied for a new lawyer.

According to some, the massive pullout of SEC attorneys is an example of this. They would abandon the sinking ship. Well-known lawyer and Ripple fan John Deaton, who is closely following the XRP lawsuit, does not find these events all that unusual: “It doesn’t mean anything.” he says about it.

Deaton has also previously commented on the impact of the lawsuit on Ripple. The lawsuit has been running since 2021. According to Deaton, Ripple lost three years of development time as a result of the process.

The XRP lawsuit could have a long end

As noted, the SEC has filed multiple appeals. The committee disagrees with the judge’s decision. The judge ruled that the secondary sale of XRP, such as on exchanges, does not fall under US securities laws.

The SEC now wants the lawsuit dropped and those appeals heard first. This could again lead to years of delays. According to Ripple board members, such a delay is unnecessary. They propose to hear the appeals after the lawsuit is settled. That would be the normal process.

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