Will Ripple vs SEC Lawsuit Extend Till 2025? Here’s the New Timeline
Qadir AK16 Oct 20242 min read
Ripple’s ongoing legal saga with the SEC has taken an interesting turn! Stuart Alderoty, Ripple’s Chief Legal Officer, has revealed a clear plan for the company’s high-stakes battle, suggesting that the case could extend into mid-2025. This update follows Ripple’s cross-appeal filed on October 10, as the SEC continues to argue that XRP should be classified as a security.
With this timeline set, the confrontation between Ripple and the SEC is sure to keep the crypto community on high alert!
Ripple’s Appeal Timeline: What Are the Next Steps?
In a recent post on X, journalist Eleanor Terrett shared details from Alderoty about the next steps in the appeal. The SEC has until October 16, 2024, to submit Form C, an important document outlining the key points it intends to challenge. After this, Ripple will submit its Form C seven days later, clarifying the issues it aims to address in its cross-appeal. Once these filings are done, both parties will negotiate a schedule for the next stages of the legal proceedings.
After the forms are submitted, the SEC will have up to 90 days to prepare and file its opening brief, which will present its full legal arguments. Alderoty expects that the SEC will use the entire 90-day period. Ripple will then respond with its brief, explaining its legal position and countering the SEC’s claims.
Ripple’s Strategic Cross-Appeal
Ripple’s choice to file a cross-appeal is a key part of its strategy to ensure that all legal arguments are fully considered. As Alderoty pointed out, this move aims to resolve any lingering legal questions. He emphasized on X:
“We filed a cross-appeal to ensure nothing’s left on the table, including the argument that there can’t be an ‘investment contract’ without essential rights and obligations found in a contract.”
It’s a Long, Long Road Ahead
The SEC filed a Notice of Appeal on October 2, indicating its intent to challenge certain aspects of the earlier court ruling. According to Alderoty, this legal process is expected to last until at least July 2025, with both sides engaged in this extended struggle.
As Ripple prepares for this long legal battle, the upcoming Ripple Swell conference is highly anticipated. It is expected to provide important updates, including potential new partnerships and developments in its Ripple USD (RUSD) stablecoin project.
This conference could significantly influence Ripple’s direction amid its legal challenges with the SEC.
The Ripple vs. SEC showdown is far from over. Stay tuned for more updates from Coinpedia as this high-stakes drama unfolds.
