The raging appeal recently signaled by the U.S. Securities and Exchange Commission (SEC) continues to attract attention.
Ripple’s Chief Legal Officer Stuart Alderoty recently weighed in on a potential timeline for the appeal as shared by JackTheRippler (@RippleXrpie), a prominent figure in the XRP community.
Alderoty’s Timeline for the Appeal Process
Alderoty outlined a detailed appeal timeline starting with October 17, the SEC’s final day to file Form C. This form initiates the official appeal process and is a critical step in shaping the next phase of the legal battle. Ripple, in turn, is expected to submit its Form C within a week, outlining its cross-appeal and further elaborating on its legal positions.
Once both sides submit their respective Form Cs, the parties will mutually agree on a briefing schedule. Alderoty estimates that the SEC will have up to 90 days to file its initial brief.
According to him, this will likely take 90 days, meaning the SEC’s first major filing could be due in early 2025. The SEC’s brief is expected to contain a comprehensive list of its legal arguments as it seeks to overturn the ruling that XRP is not a security for secondary market sales.
After the SEC submits its brief, Ripple will file its response, followed by the exchange of additional briefs between both parties. Alderoty believes this back-and-forth process will extend well into the summer of 2025, culminating in oral arguments later in the year. This suggests the full briefing process could last until at least July 2025.
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Another Legal Expert’s Timeline
Fred Rispoli, another experienced legal voice in the cryptocurrency sector, offers a slightly different perspective on the timeline. He anticipates that the SEC will file its initial brief by December 2, 2024, but he also believes that the SEC may request a 30-day extension, which could push the deadline into early January 2025.
Similarly, Rispoli predicts that Ripple’s cross-appeal will be submitted around the same time as the SEC’s brief, with opposition briefs from both sides expected by February 2, 2025.
One key difference between Rispoli’s and Alderoty’s timelines is Rispoli’s belief that Ripple may request an extension for the opposition briefs, potentially moving the deadline to March 2, 2025. Furthermore, Rispoli envisions that the reply briefs will be due by the end of March 2025.
He also anticipates that oral arguments could be scheduled between September and October 2025, with a final ruling from the Second Circuit Court likely in early 2026, possibly extending into March or April.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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