Fact Check: Did The SEC Drop it’s Appeal Against Ripple?

There’s been some confusion in the crypto world about whether the U.S. Securities and Exchange Commission (SEC) dropped its appeal against Ripple in March 2025. Let’s clear things up.

In a video from March, called Crypto in a Minute, Ripple’s Chief Legal Officer, Stuart Alderoty, spoke about the case. He said, “I feel good,” as he reflected on the years of legal battles condensed into 60 seconds.

Alderoty claimed that not only did the SEC drop its appeal against Ripple, but it also dropped all its enforcement actions against crypto companies in the U.S. He explained that the SEC finally admitted what Ripple and others had argued for years,  that you can’t enforce laws without first clearly defining them.

“We never had clear laws or regulations for crypto in this country,” Alderoty said. “Now, we’re going to clean up the mess, leave the courtrooms behind, and work with Congress to build smart rules that protect consumers and allow innovation to grow.”

But Here’s What a Former SEC Lawyer Says

However, former SEC attorney James Farrell shared a different view on social media. He wrote, “The SEC still has not dropped its appeal. Both parties’ appeals are still alive (although stayed) today..”

What’s Really Happening?

To be clear, while the SEC’s appeal has been stayed (put on hold), it hasn’t been officially withdrawn. Both Ripple and the SEC still have active appeals in court.

The case isn’t over yet, but there’s growing hope that clearer crypto rules will soon be created in the U.S. Ripple’s legal team is staying involved in those conversations, aiming to help shape fair regulations for the industry.