Ripple v. SEC Case Update: Briefing Schedule Set for SEC’s Request to File Interlocutory Appeal
Shortly after Ripple filed its opposition to the SEC’s anticipated motion for an interlocutory appeal, Judge Analisa Torres has granted the SEC’s request for a motion to file an early appeal. The court has set a briefing schedule, with August 18 as the deadline for the SEC’s motion, September 1 for the defendants’ opposition, and September 8 for the SEC’s reply.
Key Points:
– The court has granted the SEC’s request for a motion to file an early appeal.
– This does not mean the Judge has authorized an early appeal, only that the SEC is allowed to request it.
– Judge Torres could still deny the motion and provide an explanation for the denial, which could take another 3-6 months for her ruling.
– Ripple’s legal team has filed an opposition to the SEC’s anticipated motion, citing wrongful application of the Howey facts and lack of clear legal question.
– Ripple’s chief legal officer, Stuart Alderoty, is confident in winning an appeal but prefers to follow the ordinary course of proceedings.
Hot Take:
The court’s decision to set a briefing schedule for the SEC’s request indicates progress in the ongoing legal battle. While the SEC has been allowed to request an early appeal, it is not guaranteed that it will be granted. Ripple remains steadfast in its opposition and believes it has strong grounds to prevail. The XRP token’s price has been affected by the uncertainty surrounding the case, reflecting the bearish sentiment in the overall cryptocurrency market.
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