The Ripple vs. SEC lawsuit appeal is making progress, with the Ninth Circuit Court of Appeals setting key dates for 2025. The legal battle, which has captured the attention of the cryptocurrency community, is moving forward despite potential obstacles.
A recent tweet from RippleLordz announced a new date set by the US court of appeal against the SEC, marking a significant development in the ongoing lawsuit. The court has scheduled a crucial date for March 6, 2025, for the appeal, with Ripple and CEO Brad Garlinghouse expected to submit their answering briefs by April 7, 2025.
However, there is a looming threat of a US government shutdown that could potentially disrupt the legal proceedings and delay a final resolution on XRP’s regulatory status. The court has set deadlines for various documents to be filed, including a mediation request by plaintiff Bradley Sostack by December 23, 2024, and an appeal transcript by January 30, 2025.
Despite Ripple’s previous success in district court, where Judge Phyllis Hamilton ruled in favor of the company, the plaintiff Bradley Sostack continues to challenge the outcome and seeks to appeal the rulings. This ongoing legal battle has implications for the entire cryptocurrency industry, as a final resolution on XRP’s regulatory status hangs in the balance.
The potential government shutdown adds another layer of complexity to the already intricate litigation, raising concerns about delays and added pressure on all parties involved. The SEC’s responses could be further delayed, giving Ripple more time to prepare its defense but also prolonging the uncertainty surrounding XRP’s regulatory future.
As the Ripple vs. SEC lawsuit appeal progresses, the cryptocurrency community eagerly awaits the outcome, with significant implications for the industry as a whole. Stay tuned for further updates on this evolving legal battle.