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RIPPLE CLO PREDICTS TIMELINE FOR SEC APPEAL RESOLUTION

by Jake Simmons
6 hours ago
in XRP
0


Stuart Alderoty, Chief Legal Officer (CLO) of Ripple Labs, has provided his
expected timeline for the appeals process in the case against the US Securities
and Exchange Commission (SEC). His prediction provides insight into the
procedural steps that both parties will take and indicates that the briefing
process could drag on until July 2025.


RIPPLE VS. SEC: POTENTIAL APPELLATE TIMELINE

FOX Business journalist Eleanor Terrett shared details of her conversation with
Alderoty on October 15 via X. She reported: “Just had a great chat with Stuart
Alderoty of Ripple who gave me a rundown of the appeals timeline. The SEC’s last
day to file Form C (which will give some level of detail about what it plans to
appeal) is tomorrow.” This implies that by today, October 16, the SEC must
submit Form C, a document that will outline the specific aspects of the case it
intends to challenge on appeal.


Related Reading: Ripple Swell Conference Begins Today: Top Themes To Watch Out
For

Terrett continued, relaying Alderoty’s insights: “Seven days later, Ripple will
file its own Form C, which will give more details about its own cross-appeal.
Both parties will then agree on a briefing schedule, and the SEC then has up to
90 days to file its first brief. Alderoty says he expects them to take the full
90 days. That opening brief will be a full recitation of all the legal arguments
that the SEC will be making. Ripple will file a response and then its own
brief.” According to Alderoty, “the full briefing process… will go through July
2025.”

The SEC’s decision to appeal follows the final ruling on August 7, 2024. Judge
Analisa Torres of the US District Court for the Southern District of New York
granted a permanent injunction against Ripple Labs and its executives, while
imposing a $125 million penalty for unregistered XRP sales. Already on July 13,
2023, Torres ruled that Ripple’s institutional sales of XRP violated federal
securities laws, deeming them unregistered securities offerings. However, it
also concluded that Ripple’s programmatic sales of XRP to the general public, as
well as distributions to employees and third parties, did not constitute
securities transactions.

Related Reading: Ripple CEO Drops Bombshell, Accuses ‘Renegade’ SEC Of Breaking
The Rules

On October 2, the SEC formally announced its intent to appeal the ruling by
filing a “notice of appeal” to the US Court of Appeals for the Second Circuit.
Notably, the SEC has not yet articulated the specific grounds of its appeal. The
forthcoming Form C is expected to provide more detailed information about the
legal arguments the SEC plans to advance.

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In response to the SEC’s appeal, Ripple announced on October 10 that it would
file a cross-appeal. Stuart Alderoty stated via X: “The SEC lost on all key
points—that’s why they appealed. Today, Ripple filed a cross-appeal to ensure
nothing’s left on the table, including the argument that there can’t be an
‘investment contract’ without there being essential rights and obligations found
in a contract.”

As Bitcoinist reported, pro-XRP lawyer Fred Rispoli also offered a prediction
regarding the appellate timeline two weeks, which aligns with Alderoty’s
expectations but extends the potential conclusion of the case into early 2026.
Rispoli outlined the sequence of filings and responses leading up to oral
arguments, scheduled for sometime between September and October 2025, with he
expects a final ruling from the Second Circuit Court of Appeals not until at
least January 2026.



At press time, XRP traded at $0.5430.

XRP price remains above the 200-week EMA, 1-week chart | Source: XRPUSDT on
TradingView.com
Featured image from YouTube / EUI TV, chart from TradingView.com

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JAKE SIMMONS

Jake Simmons has been a Bitcoin enthusiast since 2016. Ever since he heard about
Bitcoin, he has been studying the topic every day and trying to share his
knowledge with others. His goal is to contribute to Bitcoin's financial
revolution, which will replace the fiat money system. Besides BTC and crypto,
Jake studied Business Informatics at a university. After graduation in 2017, he
has been working in the blockchain and crypto sector. You can follow Jake on
Twitter at @realJakeSimmons.




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