In the ongoing legal battle between the Securities and Exchange Commission and Ripple, the blockchain firm has submitted a court filing requesting a brief extension for the deadline related to financial disclosure. This move comes in response to the SEC’s demand for post-complaint contracts and financial statements from the last two years.
Fred Rispoli, a legal expert and advocate for XRP, weighed in on the development, expressing his concerns about the evolving legal proceedings.
Rispoli’s Analysis
Fred Rispoli took to social media platform X to share his thoughts on the latest development in the SEC vs. Ripple saga. In his tweet, he expressed his disappointment regarding the SEC’s persistence in the case, hoping that the commission would shift its focus elsewhere.
However, Rispoli acknowledged the possibility of the SEC conceding after the final order on damages, which is anticipated to come around mid-summer. Despite this, he hinted at the likelihood of the case being appealed, with an order from the 2nd Circuit Court not expected until mid-2026.
Assessment of Ripple’s Strategy
Rispoli delved into Ripple’s strategic moves, particularly regarding its response to the SEC’s requests for discovery. He questioned Ripple’s decision to fight the discovery, suggesting that keeping it hidden could allow the SEC to pursue legal action against Ripple for post-complaint sales later.
Rispoli emphasized the significance of the damages portion of the case, highlighting the SEC’s scrutiny of Ripple’s current operations following the Motion for Summary Judgment (MSJ) ruling.
According to Rispoli, the SEC’s focus remains on restricting or eliminating Ripple’s institutional operations. He anticipated that the upcoming briefing would delve into Ripple’s current operations and how they differ from the activities targeted in the MSJ.
Rispoli highlighted the high stakes for Ripple in this legal battle, emphasizing the need for strategic manoeuvring to navigate the regulatory challenges.
