In a fresh twist in the high-profile legal dispute between Ripple and the U.S. Securities and Exchange Commission (SEC), the SEC has requested a new deadline to file its principal brief in the ongoing appeals process. The SEC is seeking an extension until January 15, 2025, for submitting its brief.
Attorney James K. Filan shared the update with the XRP community via a tweet, revealing the SEC’s request for additional time, a move that has further delayed the resolution of the case. This comes after a series of procedural delays that have already extended the lawsuit beyond its expected timeline.
Filan stated, "The SEC has requested that the deadline for filing its principal brief be January 15, 2025." This delay raises concerns within the XRP community, which is keenly awaiting the final outcome of the case that has lingered since December 2020.
Ripple's Response and Appeal
In response to the SEC’s appeal, Ripple filed the Civil Appeal Pre-Argument Statement (Form C) with the U.S. Court of Appeals for the Second Circuit. Ripple’s filing challenges certain aspects of a 2023 ruling that partially sided with the company in relation to its sale of XRP to investors.
The SEC, on the other hand, filed its own Form C, contesting portions of the 2023 judgment. Notably, the SEC has been accused of filing important documents at the last possible moment throughout the case, sparking speculation that these delays may reflect uncertainty within the agency regarding its chances of success.
XRP Community Reactions
Members of the XRP community have voiced their frustration with the SEC’s tactics, with Bill Morgan, a lawyer and XRP enthusiast, suggesting that the SEC's repeated delays indicate a lack of confidence in its legal strategy. Morgan remarked that “maximum delay” has been the SEC’s approach, having continually sought extensions and filed documents at the last minute.
Morgan further noted that "Judge Torres' judgment is receiving increasing support in SEC cases involving exchanges." This development has led to growing speculation about whether the SEC is intentionally stalling or simply unprepared to make a strong case on appeal.
As the legal saga continues, the crypto world is watching closely, aware that the final outcome could have significant ramifications for XRP and the broader cryptocurrency landscape.
