The post New Deadline Ordered By Second Circuit Court appeared on BitcoinEthereumNews.com.

The United States Court of Appeals for the Second Circuit has issued an order in the XRP lawsuit between the Securities and Exchange Commission (SEC) and Ripple Labs, Inc. The court has mandated that the SEC must file its appellate brief by January 15, 2025, setting a firm deadline. Ripple Case Update: New SEC Filing Deadline The court’s order, dated October 31, 2024, states unequivocally: “It is HEREBY ORDERED that Appellant-Cross-Appellee’s brief must be filed on or before January 15, 2025. The appeal is dismissed effective January 15, 2025, if the brief is not filed by that date. A motion to extend the time to file the brief or to seek other relief will not toll the filing date.” This stringent directive emphasizes that failure to comply will result in the dismissal of the SEC’s appeal, underscoring the court’s insistence on adherence to procedural timelines. The order by the court follows recent controversy surrounding the SEC’s filing of Form C, which outlines the specific issues the agency intends to address on appeal. Within the XRP legal community, there was considerable speculation that the SEC had missed the deadline for this crucial filing. The SEC managed to submit Form C just before the debated deadline on October 17, 2024. The exact cutoff was a point of contention, with discussions centering on whether it fell on October 16 or 17. A missed deadline could have jeopardized the SEC’s ability to proceed with the appeal. However, legal experts noted that while missing such a deadline constitutes a procedural error, courts often afford federal agencies some leeway to rectify these mistakes. The court’s order elicited notable reactions from legal professionals engaged in the XRP community. Pro-XRP attorney Bill Morgan commented on X: “At least the consequences for not meeting this deadline are clear.”Commercial litigator…

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Filed under: News - @ November 1, 2024 6:26 pm