XRP Lawsuit: Legal Expert Says the SEC is ‘Not Delaying’ The Ripple Appeal To 2025
Anjali Belgaumkar28 Oct 20241 min read
Ripple’s legal battle with the U.S. Securities and Exchange Commission (SEC) continues, with the SEC requesting yet another extension for its main brief submission, now pushing the deadline to January 2025. According to legal analyst Fred Rispoli, this request hints at more than just logistical issues; it shows that the SEC is struggling with its resources in handling cryptocurrency cases, adding to an already packed agenda.
During his appearance on the “Good Morning Crypto Show,” Rispoli said that Ripple’s appeal will focus exclusively on written submissions, characterizing the situation as a “battle of briefs” rather than live courtroom confrontations. Oral arguments are expected to take place in late 2025, providing both parties an opportunity to strengthen their positions.
However, former SEC attorney Marc Fagel countered Rispoli’s assessment, asserting that the SEC merely selected a date to file its briefs within the established timeline and that there are no delays occurring.
Taking to his X handle, Rispoli wrote,
“False. The SEC simply picked a day to file their briefs within the allocated time period. Nothing is being delayed.”
Gary Gensler, New Laws and More
On the show, Fred also discussed how a new law could affect Ripple. If a law were passed stating it would start on January 1, 2026, it might make the current legal arguments irrelevant, as long as it clearly includes Ripple. If the law is unclear about Ripple’s status, the appellate court might send the case back to the trial court for more clarification.
Fred said that new SEC leadership could greatly impact Ripple’s lawsuit. Regarding Gary Gensler, the current SEC chairman, Fred predicted there’s a “0% chance” he’ll still be in that role by 2026.
