Ripple Labs has filed a request with the U.S. Courtroom of Appeals for the Second Circuit searching for an April 16, 2025 deadline for its cross-appeal temporary within the Ripple vs. SEC case.
The Ripple Labs authorized workforce filed the request on Jan. 23, with the crypto firm’s authorized workforce noting that Ripple co-founder Chris Larsen and chief govt officer Brad Garlinghouse “be a part of on this request.”
“I write on behalf of Appellee-Cross-Appellant Ripple Labs Inc (“Ripple”) in regards to the above enchantment and cross-appeal. Below this Courtroom’s Rule 31.2(a)(1)(B), Ripple requests a due date of April 16, 2025 for its temporary. I’m approved to state that Appellees Bradley Garlinghouse and Christian A. Larsen be a part of on this request,” Ripple Labs authorized workforce member Michael Kellogg wrote.
The SEC lately filed its temporary, arguing towards the ruling that retail gross sales of XRP (XRP) weren’t securities.
In July 2023, Choose Analisa Torres of the New York District Courtroom dominated that XRP was not a safety, marking a notable victory for Ripple and the broader crypto trade. Nonetheless, the courtroom decided that Ripple violated securities legal guidelines in its institutional gross sales of the XRP token.
Ripple and the SEC have remained locked in a authorized battle for the reason that U.S. securities watchdog filed a lawsuit towards the corporate and its executives in December 2020. Regardless of this being commonplace process within the U.S. courtroom system, market observers are speculating whether or not the brand new SEC management would possibly withdraw its enchantment earlier than Ripple recordsdata its cross-appeal temporary.
On Jan. 21, appearing SEC chair Mark Uyeda announced a crypto task force to look into the company’s strategy to regulation of the sector amid plans to develop a transparent framework. SEC has additionally been mentioned to be taking a look at withdrawing sure crypto lawsuits.
Two days later, U.S. President Donald Trump signed a crypto govt order establishing a working group to deal with crypto regulation and legislative proposals. The chief order additionally referenced a possible digital property stockpile.
