In the ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC), the SEC has sought a new deadline to submit its principal brief in the appeal phase. James K. Filan revealed that the SEC requested an extension until January 15, 2025, to file its appeal brief. This request comes after several procedural delays and missed deadlines, which have prolonged the case. Filan informed the XRP community via Twitter, stating, “The SEC has requested that the deadline for filing its principal brief be January 15, 2025,” along with the SEC’s letter to the court regarding this extension.
Appeals Process Extended
This latest request indicates that the appeals process could extend well into next year. Moreover, the crypto community eagerly anticipates the outcome of this lawsuit. Recently, Ripple submitted a Civil Appeal Pre-Argument Statement (Form C) to the U.S. Court of Appeals for the Second Circuit. Specifically, this filing challenges specific elements of a crucial ruling in its legal conflict with the SEC.
Related article: Ripple’s Legal Battle Intensifies as SEC Maintains XRP is a Security
Ripple’s filing follows the SEC’s submission of its Form C with attachments, which contests parts of a 2023 court decision that favored Ripple concerning the sale of XRP to investors. Consequently, the XRP community has expressed varied reactions to these developments.
Community Reactions
Bill Morgan, an XRP supporter and attorney, believes the SEC’s latest actions may signal either a strategy of delay or a lack of confidence in its case. He noted that Judge Torres’ judgment has increasingly received favorable feedback in SEC cases involving exchanges.
Related article: Ripple CTO Discusses SEC Appeal and Potential Filing Error
Morgan highlighted the SEC’s pattern of last-minute filings. He noted that the SEC submitted its notice of appeal just before the end of the 60-day period following Judge Torres’ final judgment on August 7. He also mentioned that the SEC filed its Form C late last week. This led to speculation that it might have been submitted a day too late.
He remarked, “Since the case began against Ripple in December 2020, the SEC has continually filed documents at the last moment and frequently sought extensions. This has maximized delays in concluding the legal process.” The ongoing situation emphasizes the uncertainties surrounding the case as both parties navigate the appeals process.
