Court Ruling on XRP’s Status Remains Untouched
The post Court Ruling on XRP’s Status Remains Untouched appeared on BitcoinEthereumNews.com.
The SEC has filed File C, challenging rulings that cleared Ripple executives and non-cash XRP distributions. Stuart Alderoty states that the SEC hasn’t appealed the court’s decision on XRP’s non-security status. The SEC missed its deadline, drawing criticism from industry experts and community members. The Securities and Exchange Commission (SEC) has filed a late appeal against the XRP ruling. Despite the delay, the SEC submitted Form C to the U.S. Court of Appeals for the Second Circuit on Thursday. The regulator is partly challenging the court decision, appealing the rulings that cleared Ripple executives and non-cash XRP distributions. Ripple’s Chief Legal Officer Stuart Alderoty highlighted that the SEC has not appealed the court’s decision on XRP’s non-security status. No surprises here — once again it’s been made clear. The Court’s ruling that “XRP is not a security” is NOT being appealed. That decision stands as the law of the land. Stay tuned for Ripple’s Form C to be filed next week. https://t.co/m9molUGSBv — Stuart Alderoty (@s_alderoty) October 18, 2024 The SEC filed an appeal to Judge Analisa Torres’ judgment in the Ripple lawsuit on October 2, 2024. Alderoty described the appeal as “disappointing, but not surprising,” and it has led to speculation about the lawsuit continuing to drag on. The agency’s failure to file the crucial Form C, which details the appeal’s specifics, caused ambiguity and anxiety about the SEC’s strategies. SEC Misses Deadline The SEC’s deadline for the File C submission was reportedly October 16th. After the SEC missed this deadline, community members and industry experts criticized the agency. Coinbase’s chief lawyer, Paul Grewal, questioned whether the agency would take another three years to provide an explanation. Other prominent figures like MetaLawMan and Fred Rispoli also commented on the regulator’s untimely moves. Read also: Bitwise Files Updated XRP ETF…
Filed under: News - @ October 18, 2024 6:25 am