As a seasoned researcher with years of experience in the dynamic world of finance and technology, I find myself closely following the Ripple vs. SEC case. Having witnessed numerous legal battles within this space, I must admit that the anticipation for this verdict is particularly high. The fact that XRP, one of the most widely-adopted cryptocurrencies, has managed to skirt the securities classification thus far, sets it apart from many of its peers and adds an intriguing layer to the case.
The Second Circuit Court of Appeals in the United States has mandated that the Securities and Exchange Commission must submit their written arguments in the ongoing legal dispute with Ripple by January 15, 2025.
In other words, although the SEC has previously announced its intentions, it will provide a comprehensive explanation backed by legal reasoning in its initial court filing. This reasoning will be reinforced with references to relevant legal precedents.
According to U.Today’s report, Ripple has submitted a pre-argument document (Form C) in preparation for appealing their own case.
It’s significant to mention that during the appeal process, the SEC won’t contest the status of XRP as a regulated token. According to Ripple’s lead attorney, Stuart Alderoty, XRP and Bitcoin (BTC) are unique among most cryptocurrencies because they are not classified as securities. This differentiates them from many other digital currencies that still face regulatory ambiguity.
In the legal battle between Ripple and the SEC, a precedent has been established which means no additional evidence can be presented or sought by the SEC. Throughout the evidence-gathering stage (discovery phase) of the trial, both parties often contested over numerous documents.
As per legal expert Fred Rispoli’s predictions, the Appeals Court will likely issue its decision by early 2026.
According to legal expert Fred Rispoli’s predictions, the Appeals Court will likely issue its decision in early 2026.
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2024-11-01 09:20