- The SEC has yet to file Form C with the Second Circuit Court of Appeals.
- Form C is crucial for Ripple to file its cross-appeal and the other proceedings.
- Bill Morgan believes that Ripple will go ahead and file its cross-appeal.
The SEC has failed to file a crucial form required for its appeal in the Ripple lawsuit, sparking confusion and criticism. Fox Business journalist Eleanor Terrett reported that Form C, which details the specifics of the SEC’s appeal, is missing from the Second Circuit Court of Appeals. This omission is causing delays and raising questions about the SEC’s strategy in the ongoing legal battle.
Read also: SEC’s Ripple Appeal Doesn’t Target XRP Secondary Sales, Clarifies Attorney
Yesterday, the SEC had filed a narrow appeal to Judge Analisa Torres’ final judgment, which had partially favored Ripple by declaring XRP a non-security. This appeal, coupled with the missing Form C, suggests a protracted legal battle that experts predict could extend until 2026.
In an X post, attorney Fred Rispoli suggested the SEC’s next step may be to push the brief date from December 2, 2024, to January 2025. The lawyer also stated that Ripple might file an opening brief around the same time, potentially extending the deadline to March 2, 2025.
Form C Still Missing
Form C is essential for further developments in the lawsuit. The form details the specific aspects the SEC is appealing. Since the SEC has not yet filed Form C, critics are pointing to the agency’s inefficiency and questioning if the agency is intentionally delaying the process. Some have commented that the regulator might have “accidentally” filed the appeal. Others mock the SEC’s slow pace, suggesting they are unclear about what they’re even appealing.
Ripple needs the SEC’s Form C to file its cross-appeal. The company has just 14 days to file the appeal, and the community is anxious about future developments.
Read also: Ripple Expands in UAE with New Financial Services License
Meanwhile, XRP attorney Bill Morgan responded to Terrett’s post, hinting that Ripple will likely submit a cross-appeal. His tweet read, “I find it difficult to believe Ripple will not file a cross-appeal.”
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
