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

Cardano Developers Launch Public Test Network for Dijkstra Upgrade

Cardano developers have launched a public test network for the Dijkstra upgrade, enabling developers to test and prepare for new protocol rules.

user avatarJesper Sørensen

Tether Introduces New Framework to Enhance Bitcoin Mining Operations

Tether has announced a new initiative aimed at simplifying Bitcoin mining operations by integrating existing equipment through a common software framework.

user avatarRajesh Kumar

Electrum Wallet Vulnerability Could Lead to Unintended Payments

Electrum disclosed a vulnerability in its wallet that could lead to unintended payments due to a flaw in fee adjustments.

user avatarLucas Weissmann

US Household Inflation Expectations Increase Ahead of Federal Reserve Meeting

In October 2023, American households raised their inflation expectations to 4.7% for the next year and 3.5% for the long run, according to a survey by the University of Michigan.

user avatarFilippo Romano

XRP Ledger Maintenance Amendment Regains Validator Majority

The XRP Ledger's fixCleanup340 amendment has regained majority support from validators, moving its activation window to November 4.

user avatarEmily Carter

W Group Invests in SwapGlobal for Institutional Pre-IPO Derivatives

W Group has announced its investment in SwapGlobal, which is preparing to offer institutional pre-IPO derivatives.

user avatarTomas Novak

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.