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.
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.
