The ongoing legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) continues to make headlines. Lawyer James K. Filan recently shared an update regarding the lawsuit. Filan revealed that the parties involved have filed a Stipulation, agreeing to file a deferred appendix for the cross-appeals 21 days after the appellee’s brief is served. However, the SEC’s opening brief is still required to be filed by tomorrow, January 16th.
However, Ripple’s Chief Legal Officer, Stuart Alderoty, revealed that the SEC refused a request to postpone the filing deadline, which is set for January 16th. Despite this, Alderoty expressed confidence in Ripple’s position, saying that the company looks forward to working with new SEC leadership to resolve the matter.
In a tweet, Alderoty shared his frustration, stating that the SEC’s refusal to delay the filing was a waste of time and taxpayer dollars. “On January 20, Gensler’s war on crypto ends at the SEC. We asked the SEC to agree to postpone the filing of their opening brief in their appeal of our victory (current deadline Jan 15) – and they refused. What a waste of time and taxpayer dollars,” he wrote.
For the unversed, Gary Gensler, the current SEC chair, will step down on January 20th, with his successor, Paul Atkins, expected to reassess many of Gensler’s actions. Ripple CEO Brad Garlinghouse also weighed in, criticizing Gensler’s approach and dismissing his actions as a failed regulation-by-enforcement strategy.
The exit of Gensler and the anticipated entry of Paul Atkins, a pro-crypto nominee, has led many to hope for a more sensible approach to crypto regulation. Ripple’s legal team remains optimistic and is confident that the appeal process will ultimately result in a positive outcome for the company.
