The post Ripple SEC Legal Battle Update: What’s Next in the Fight for XRP? appeared first on Coinpedia Fintech News
The legal battle between Ripple and the United States Securities and Exchanges Commission is likely to enter its next phase soon. The phase officially begins, when the SEC files its pre-argument statement. The SEC recently decided to appeal against a 2023 federal court ruling, which had declined to recognize XRP tokens as a security in favor of Ripple. Recently, the Chief Legal Officer of Ripple, Stuart Alderoty claimed that the US SEC might file its pre-argument statement (Form C) on Thursday. Here is what you should know about the development. Dive in!
What’s Ripple’s Appeal Plan?
Right now, there is no clear indication of what the SEC’s approach will be in this legal battle. The pre-argument statement, which is expected to be filed on Thursday, will give enough insights into the appeal plan of the agency.
Does Ripple Have a Defence Strategy?
There is no doubt that Ripple will strike back strongly. Ripple’s legal team has already confirmed the company’s plan to file its Form C in response to the SEC’s appeal. As per the latest report, this cross-appeal will be filed within seven days after the SEC’s filing. The way Ripple’s legal team is responding indicates that they are very confident about winning this legal battle. Meanwhile, an attempt to portray Ripple’s legal battle against the SEC as a noble fight to defend the rights of the cryptocurrency community has gained traction, with many crypto enthusiasts openly supporting the company.
Ripple Vs SEC Briefing Schedule and What’s Next
Once both parties file their initial forms, it will mark the beginning of the briefing session. During this session, both the parties will have the chance to present their arguments. At first, the SEC will present their arguments, and then, Ripple will have the opportunity to counter the arguments of the SEC. The latest report indicates that the first brief of the SEC will take place within three months.
Also Read :
Crypto Backing Boosts Donald Trump’s Odds in US Election 2024
,
Who Will Win the Battle, Ripple or SEC?
Although Ripple appears far more confident than the SEC about emerging victorious, a recent statement by Fred Rispoli indicates that no chance can be ruled out completely. As per Rispoli’s opinion, the outcome could heavily depend on which judges are assigned to the case. He warned that if Ripple faces a judge panel favorable to the government, the company’s chances of losing could increase dramatically.
In conclusion, it is less likely to see the final outcome of this legal battle between Ripple and the US SEC before 2026. Should the political climate in the US shift during this time, the outcome could become even more unpredictable.
Stay tuned to Coinpedia for more updates!
