The U.S. Securities and Exchange Commission (SEC) case against Ripple faces new uncertainty, with the community questioning the deadline for federal agencies to file Form C for appeals.
Form C is typically filed with a federal appellate court to notify the court and interested parties of a petition seeking review of an administrative agency decision. This is the first formal step in the appeals process and indicates your intention to file the actual petition within the required deadline.
Over the past day, members of the XRP community have speculated that the SEC may have missed the Form C filing deadline, originally set for October 16, 2024, but the correct deadline is Friday, October 18. Some argued that it was possible.
Deadline uncertainty
The SEC originally filed a notice of appeal on October 2, 2024, but the case was not formally entered into the system until October 4.
Jeremy Hogan, a pro-crypto attorney, asked whether the difference in dates means the SEC should file Form C on October 16th, or whether the SEC could extend filing until October 18th. He pointed out that there was still room for doubt.
Meanwhile, Ripple’s CTO David Schwartz is just as confused as everyone else. Although he thinks this is an unusual tactic, he points out that it’s not impossible that the SEC intentionally missed the deadline to end the appeal.
he said:
“It’s not possible that they intentionally exceeded the filing deadline to terminate the appeal, but it seems like really strange behavior.”
According to court filings, the SEC must complete and submit the form within 14 days of the Oct. 4 court notice. “The real deadline is actually Friday, October 18th at 11:59 p.m.,” Fox Business journalist Eleanor Tellet said, citing documents filed with the Second Circuit. .
Consequences of missing the deadline
Community members are still uncertain about the SEC’s deadline, but missing it could harm the SEC’s case against Ripple.
Fred Rispoli, a pro-XRP lawyer, said if the SEC misses the Form C deadline, the case could be dismissed.
But he noted that the circuit’s local rules allow courts to use their discretion to hear cases past the deadline, especially when federal agencies are involved.
Rispoli explained:
“The Court of Appeals gives federal agencies a lot of discretion. Even if the government comes up with an excuse, the court is likely enough to ignore it. (But) if you or I If we were one day late in filing the correct form, our case would be over.”
Posts mentioned in this article: XRP, US, Legal
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