- The SEC had 14 days to file an appeal from October 2
- On Oct. 16, the SEC failed to file Forms C and D with key claims
- Some believe this may reduce the SEC’s chances of success against Ripple
- However, the SEC like other federal agencies often gets flexibility in these matters
On Oct. 2, the SEC announced its intention to file an appeal against the Ripple ruling, for which the agency had 14 days with a deadline of Oct. 16.
However, the SEC was late in filing the appeal and making key arguments, which has led to questions about the likelihood of success in the case against Ripple.
There are reasons to think that the conclusion of the case, which the XRP community has been waiting for, may be delayed.
Details on the SEC’s Delay on Appeal
The SEC was supposed to file Forms C and D with key arguments against the Ripple decision and Judge Analisa Torres’s ruling by October 16.
That the SEC didn’t do so shouldn’t necessarily cause problems, as government agencies often get leniency for violating deadlines in such matters.
However, the fact that it’s late is there, and the XRP community has gotten another reason to be excited, having previously been anticipating the final conclusion of the long SEC and Ripple litigation.
Attorney Fred Rispoli gave his commentary on the matter, addressing the XRP community.
Conclusion
The XRP community will have to be patient again and watch the ongoing drama between the SEC and Ripple, at the very least.
Stay tuned, we will be watching the developments closely.
