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In the latest development in the ongoing SEC vs. Ripple case, the U.S. Securities and Exchange Commission has requested a January 15, 2025 target deadline for filing key briefs.
The request has fueled speculation among XRP supporters, who see it as a delaying tactic aimed at prolonging the legal battle, which is currently in the appeals stage.
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As reported, XRP enthusiast and lawyer Bill Morgan feels that the SEC’s recent moves are primarily about delays or that the SEC is not confident in its prospects. are.
However, former SEC Regional Director Mark Feigel stepped in to clarify the situation and refute speculation of a delay. Fagel doesn’t think the SEC is purposefully expanding the process.
No one is trying to “extend” anything. The court’s rules require appellants to request a briefing date within 91 days of filing certain information with the court. The SEC is doing it now.
— Mark Fagel (@Marc_Fagel) October 25, 2024
“No one is trying to extend anything. Court rules require appellants to request a briefing date within 91 days of filing certain information with the court. The SEC is currently That’s what we’re doing,” Fagel said.
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Mr. Fagel’s insights bring a procedural perspective to this case, and the SEC’s action is a standard that requires appellants to request a briefing date within 91 days of filing certain information with the court. This suggests that it is consistent with standard court procedures. Despite his statements, some members of the XRP community remain skeptical and question the SEC’s commitment to a timely resolution.
Other latest information
Ripple Labs filed a Form C with the U.S. Court of Appeals for the Second Circuit listing the issues it plans to raise in its cross-appeal.
Ripple’s Chief Legal Officer Stuart Alderotti confirmed the filing in an Oct. 25 XPost, saying, “The SEC cannot submit new evidence or require Ripple to submit further evidence.” added.
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In a tweet, Alderoti reminded the XRP community that the SEC’s broader strategy is to create chaos and disruption for Ripple and the industry as it moves through the appeals process. “But let’s be honest, it’s just noise right now. The hard part of the fight is behind us. Even while this appeals process is underway, Ripple’s business is growing and getting stronger every day.” added Alderoti.
Given the SEC’s request for a deadline for key briefs, the XRP community and the broader crypto market may have to wait until January 2025 for the next stage of the appeals process.
