Ripple executives criticise SEC for not delaying appeal filing

Ripple (CRYPTO:XRP) executives have expressed frustration over the U.S. Securities and Exchange Commission's (SEC) decision not to postpone its appeal filing, despite a change in leadership set for January 20.

On January 14, Ripple's Chief Legal Officer, Stuart Alderoty, announced via an X post that the SEC would proceed with its appeal against a judgment that found Ripple liable for $125 million in penalties related to the sale of XRP as an unregistered security.

“What a waste of time and taxpayer dollars,” Alderoty remarked, while affirming Ripple's confidence in its legal position as they prepare for the appellate process.

Ripple's CEO, Brad Garlinghouse, echoed Alderoty's sentiments and suggested that the SEC’s enforcement strategy regarding cryptocurrency might shift with the incoming administration of President-elect Donald Trump.

Trump has indicated plans to replace SEC Chair Gary Gensler, who has faced criticism from various sectors of the crypto industry.

The civil case against Ripple began in December 2020 and has seen significant developments since then.

In August 2024, a federal judge ruled that XRP does not necessarily qualify as a security, leading to the SEC’s appeal of this decision.

Alderoty clarified that Ripple's appeal would not contest this aspect of the judgment.

As the deadline for the SEC to file its opening brief approaches on January 15, there remains uncertainty about whether the new SEC leadership will continue pursuing the case against Ripple.

Alderoty has been politically active, donating over $300,000 to support Trump-related PACs, further complicating the landscape.

At the time of reporting, the XRP (XRP) price was $2.81.