AI Summary
- The US Securities and Exchange Commission (SEC) has refused to postpone its appeal against Ripple (XRP).
- Ripple’s Chief Legal Officer, Stuart Alderoty, expressed frustration at the SEC’s decision despite new SEC leadership coming in in early 2025.
- Ripple CEO Brad Garlinghouse criticized Gary Gensler and the SEC for ignoring the wishes of the last election.
- Despite the SEC’s rouge moves, Ripple’s XRP token has gained 10% over the last 24 hours, with investors confident that Paul Atkins will dismiss the former SEC’s filing against Ripple.
The US Securities and Exchange Commission (SEC) has refused to postpone its appeal against Ripple (XRP).
Ripple’s Chief Legal Officer, Stuart Alderoty, expressed frustration at the SEC’s decision despite new SEC leadership coming in in early 2025.
Ripple CEO Brad Garlinghouse criticized Gary Gensler and the SEC for ignoring the wishes of the last election.
Ripple v SEC ongoing until new deadline
Although Gary Gensler has resigned, the changing of the SEC’s leadership and most of its top members has yet to take place.
With most of the old guard still active, the SEC has gone ahead and refused to postpone their filing against Ripple and the XRP token in their opening brief for 2025.
With such a high chance of the appeal being withdrawn, the Ripple community and crypto investors believe the SEC has ignored Ripple’s requests out of spite.
Ripple CEO Brad Garlinghouse expressed frustration with the SEC and has vowed to make amends with the new chairperson, Paul Atkins, once he takes up office.
From Stuart Alderoty on X/Twitter:
On January 20, Gensler’s war on crypto ends at the SEC. We asked the SEC to agree to postpone the filing of their opening brief in their appeal of our victory (current deadline Jan 15) – and they refused.
What a waste of time and taxpayer dollars! Nevertheless, we are confident in our position on appeal and look forward to working with new SEC leadership to resolve this matter.
New deadline for XRP approaches
According to legal experts, the current SEC leadership had no choice in changing the deadline due to local rules, even if both parties agreed to do so.
Ripple is due to file their opposing arguments against the case, 45 days after the SEC submits their opening brief.
Both parties will submit their deferred appendix of relevant documents and evidence for appeals by March 21, 2025.
Despite the SEC’s rouge moves, Ripple’s XRP token has gained 10% over the last 24 hours, with investors confident that Paul Atkins will dismiss the former SEC’s filing against Ripple.
Over the last 7 days, XRP has gained 20%+ and is on its way to $3.00 which may act as a point of resistance.
