The SEC may have jeopardized its case against Ripple by missing a critical deadline to file its appeal. This relates to a decision from August 7 that the regulator seeks to contest.
Missed Filing Deadline
After announcing its intent to appeal on October 2, the SEC had 14 days to submit Forms C and D. As of October 16, these documents had not been filed, which could prove costly.
Legal Aspects
Attorney Fred Rispoli advised not to get overly optimistic about the missed deadline, as appellate courts may show leniency towards federal agencies.
Community Reactions
The XRP community is puzzled by the missed filing. One commentator, Moon Lambo, noted that while the rule states the appeal 'will' be dismissed, government agencies often receive some flexibility.
The current situation raises many questions in the XRP community. The outcome of the Ripple vs SEC case remains uncertain, and only time will tell what new turn this issue will take.