Ripple Requests April 16, 2025 Deadline for Brief in SEC Case
The legal battle between Ripple and the SEC continues, with Ripple recently requesting an April 16, 2025 deadline to be briefed in the ongoing case. This comes after the SEC filed its opening appeal brief, suggesting the regulator is not backing down.
Many had hoped that the SEC would take a step back following an earlier court ruling that found certain sales of XRP were not considered securities. However, as expected, the U.S. Securities and Exchange Commission (SEC) decided to appeal the decision, arguing that the court made fundamental errors in its ruling.
The SEC claims that sales of digital assets on exchanges such as XRP should be classified as securities. However, Ripple’s legal team, led by Stuart Alderoty, is confident that the SEC’s appeal will not succeed and they hope that stronger arguments will prevail in court.
Alderoty dismissed the SEC’s appeal as “just noise.” He said the appeal had failed by simply re-arguing the case, and predicted the next government might drop the case. Ripple remains confident that they will win and believes that a new era of supporting innovation is coming.
Jeremy Hogan, an attorney who has followed the case closely, also criticized the SEC’s appeal. He described it as “boring” and thought the SEC’s arguments were weak. Hogan noted that the SEC is still working to prove that retail investors want to profit from Ripple’s efforts, especially those unaware of the company’s existence. Hogan believes the Second Circuit is unlikely to rule against the SEC.
