Cryptocurrency company Ripple Labs and the U.S. Securities and Exchange Commission (SEC) have agreed to file a deferred appendix as part of their cross-appeals related to the summer ruling by the Southern District of New York.
Agreement on Appendix Filing
The parties agreed that the deferred appendix will be filed 21 days after the appellee’s brief is served. This agreement is intended to simplify the process by focusing on documents cited in the briefs.
Parties' Positions in Appeal
In the previous court ruling, Ripple secured a decision that its open-market sales of XRP do not constitute securities offerings, while the SEC prevailed on the issue of Ripple's institutional sales. Both parties are now appealing these outcomes.
Response to Appeal Deadline
Ripple's legal chief expressed dissatisfaction with the SEC adhering to the January 15, 2025 deadline for filing its opening appeal brief. Under the current schedule, the parties must meet their obligations within the stipulated time frames.
The appeals process between Ripple and the SEC continues to unfold with new deadlines and requirements, which could have significant implications for the crypto industry.
