The developments in the Ripple SEC lawsuit are both exciting and perplexing, particularly due to differing appeal filing dates.

Discrepancies Over Appeal Filing Dates

One complicating element has been the Commission's conflicting position on the filing of Form C, which some perceived as a regulatory oversight. A SEC representative stated that the appeal is 'proceeding normally,' with all necessary submissions to follow soon. This information was shared by journalist Eleanor Terrett from Fox Business, citing assurances from an official about the normalcy of the situation. However, many analysts are puzzled by the SEC's actions, given its past punctual applications. According to the SEC's appeal notice dated October 2, 2024, the agency filed its notice of appeal but didn't enter the system officially until October 4, leading to confusion over whether the filing deadline was October 16 or 18.

Case Extended Until 2025

Ripple Labs CTO David Schwartz has indicated that the SEC might have employed a strategic approach by allowing the appeal window to lapse, which he finds bizarre. Ripple CEO Brad Garlinghouse's response contained sarcasm about the phrase 'proceeding normally,' hinting at the SEC’s evolving case strategy. Ripple is preparing to counter the SEC’s arguments, with the full briefing process expected to continue until July 2025.

Ripple's View on the Situation

Ripple has not clearly signaled its plans, though it disapproves of the SEC's shifting strategy. Recent comments by David Schwartz and Brad Garlinghouse indicate the company is in a waiting mode, preparing for continued legal challenges. The escalation around filing dates and document submissions sparks discussions both among case stakeholders and cryptocurrency experts.

The Ripple vs SEC lawsuit continues to evolve and provoke heated discussions, marking a significant event for the entire cryptocurrency industry. Companies and market participants closely follow every detail of the proceedings.