The post XRP Price Set To Be Impacted As Legal Chief Reveals How SEC’s Appeal Will Play Out ⋆ ZyCrypto appeared on BitcoinEthereumNews.com.

Advertisement &nbsp &nbsp Stuart Alderoty, Ripple’s Chief Legal Officer (CLO), has shared his anticipated timeline for the appeals process in the high-profile lawsuit with the US Securities and Exchange Commission (SEC). As the SEC prepares to appeal a federal judge’s decision involving XRP, Alderoty has provided insight into the procedural steps that both parties will take and suggested that the full briefing process could drag on until July 2025. How SEC’s Appeal Will Play Out In a Wednesday X post, Fox Business journalist Eleanor Terrett revealed her wonderful conversation with Ripple’s legal head, Stuart Alderoty. According to Alderoty, the SEC’s last day to file a Form C, which should give more details about what exactly it plans to appeal, was yesterday (Oct. 16). Seven days later, Ripple will submit its Form C, which should provide more information about its cross-appeal. In August, Judge Torres ordered Ripple to pay a $125 million fine for XRP transactions that violated securities laws. The SEC had alleged that Ripple raised $1.3 billion via unregistered securities offerings since 2013 and later demanded a $2 billion fine. While Ripple executives lauded the ruling, the SEC filed a notice of appeal earlier this month in the prolonged case against Ripple. Ripple later struck with a cross-appeal as it aims to ensure that the blockchain firm retains its points and arguments in the lawsuit. Advertisement &nbsp After Ripple’s Form C filing, both parties will then agree on a briefing schedule, with the SEC supposed to file its first brief within 90 days. Alderoty reportedly said he expects them to take the complete 90 days. That opening brief will be a full recitation of all the legal arguments that the SEC will be bringing forth. Ripple will then follow with a response and then its own brief.  While Ripple’s…

---

Filed under: News - @ October 17, 2024 5:28 pm