Ripple Sets April Date for Filing Appeal against SEC

user avatar

by Giorgi Kostiuk

2 years ago

Enterprise blockchain company Ripple has announced its intent to file its final arguments in the cross-appeal against the U.S. Securities and Exchange Commission (SEC) on April 16. This move is part of an ongoing legal battle.

Timeline of Events

Previously, Ripple's chief lawyer Stuart Alderoty predicted that the new SEC administration might drop the case. Earlier this month, the SEC submitted their arguments in the appeal, urging the court to overturn the district court's judgment. Ripple's team dismissed these claims as 'noise.'

Ripple's Response to SEC Actions

Ripple CEO Brad Garlinghouse described the cross-appeal as 'the definition of insanity,' highlighting the repetition of the SEC's arguments. The company filed its cross-appeal less than two weeks after the notice of appeal.

The definition of insanity is doing the same thing over and over again and expecting different results.Brad Garlinghouse

Key Players and Implications

Former SEC Commissioner Paul Atkins was nominated to replace Gary Gensler, who stepped down as SEC Chair. Republican SEC Commissioner Mark Uyeda is currently acting as the interim chairman. Both are known for their pro-crypto stance.

Ripple's actions might extend the litigation, but this is considered an unlikely scenario. The appointment of pro-crypto figures to key positions in the SEC could influence the future proceedings.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Solana Activates Alpenglow Consensus Protocol on Mainnet

On October 21, 2023, Solana activated the Alpenglow consensus protocol on its mainnet, aiming to reduce transaction finality from approximately 128 seconds to about 150 milliseconds.

user avatarRajesh Kumar

US-listed Bitcoin ETFs See Major Recovery with $176 Million in Inflows

US-listed Bitcoin ETFs have seen a significant recovery with $176 million in inflows on Tuesday, following $110 million on Monday, after facing $774 million in outflows earlier.

user avatarFilippo Romano

Ethereum ETFs Struggle with $149 Million in Outflows as Bitcoin Recovers

Ethereum ETFs face significant net outflows of approximately $149 million, contrasting with the recovery of Bitcoin ETFs.

user avatarLucas Weissmann

Euronext Suspends CoinShares Zcash ETP on Launch Day

Euronext has suspended the CoinShares Zcash exchange-traded product (ETP) on the very day it was scheduled to debut on Euronext Paris due to operational settlement requirements.

user avatarEmily Carter

OCC Finalizes Rule for Stablecoin Issuers Under GENIUS Act

The OCC has finalized a rule for stablecoin issuers under the GENIUS Act, establishing standards for reserve backing, redemption obligations, and risk management, effective January 18, 2027.

user avatarTomas Novak

CoinDCX Acknowledges $159.9 Million Loss Linked to Retired Wallets

Indian cryptocurrency exchange CoinDCX has acknowledged a significant financial loss of $159.9 million linked to its retired wallet infrastructure due to a failed automated transfer process.

user avatarKaterina Papadopoulou

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.