The post Pro-XRP Lawyer Predicts End Date Of SEC Vs. Ripple Appeal appeared on BitcoinEthereumNews.com.

On Wednesday, October 2, the United States Securities and Exchange Commission (SEC) took a formal step in extending the XRP lawsuit with Ripple by filing a Notice of Appeal of Judge Torres’s ruling. This move came on the heels of the final judgment by the US District Court, Southern District of New York on August 7, which the SEC is now contesting. In the notice, the agency does not specify which elements of the case it will appeal. The ambiguity leaves room for speculation whether the SEC will challenge both decisions by Judge Torres, the ruling on programmatic sales of XRP which also clarified that XRP itself is not a security (from July 2023) or the remedies imposed on Ripple’s institutional sales, finalized on August 7. Ripple’s response to the SEC’s action was promptly articulated by the company’s Chief Legal Officer, Stuart Alderoty. Through a post on X, Alderoty slams the SEC’s persistent legal strategies. Notably, he also mentions that Ripple is contemplating a cross-appeal. If Ripple decides to pursue a cross-appeal, it must file within a 14-day window that begins on October 3. (1) The SEC’s decision to appeal is disappointing, but not surprising. This just prolongs what’s already a complete embarrassment for the agency. The Court already rejected the SEC’s suggestion that Ripple acted recklessly, and there were no allegations of fraud and, of course,… https://t.co/PQozMMtthf — Stuart Alderoty (@s_alderoty) October 2, 2024 XRP Lawsuit Not Over Before 2026? Via X, crypto lawyer James “MetaLawMan” Murphy commented on the potential next deadline in the case: “Next step on the Ripple Appeal. My recollection of the process is that the SEC has 14 days to file a form that will identify which specific issues it is appealing. Lawyer disclaimer: I haven’t handled a 2nd Circuit appeal since 2021. So,…

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Filed under: News - @ October 3, 2024 6:17 pm