Ripple Labs requested its cross-appeal brief on April 16 to escalate its SEC lawsuit. On January 23, Ripple’s legal team requested an essential development in the cryptocurrency community’s hot lawsuit. Ripple’s CEO Brad Garlinghouse and co-founder Chris Larsen support the request as the cryptocurrency industry awaits the outcome of this essential judicial matter.
Implications of Ripple’s Request
Ripple has recently filed to set a timeline for when it will present its legal reasons against the SEC’s ongoing appeal. Michael Kellogg, part of Ripple’s law team, says this request is expected. A short deadline, like the one asked, ensures both sides follow the court’s schedule, helping the legal process move forward smoothly.
SEC and Ripple Responses
In its January 15 statement, the SEC stated again that it thinks the New York District Court made a mistake in its decision. The panel believes that XRP should be considered a security in every situation, including when it’s sold to institutions and used to pay employees. This position supports the SEC’s ongoing view on Ripple’s supposed breaking of securities laws, a case that started in December 2020.
Ripple has responded to these claims by saying it is dedicated to clear rules and regulations. The business is working with the legal system to set a standard that will help itself and the entire cryptocurrency industry.
Future of Crypto Regulation
Ripple’s call for a deadline highlights how important this case is for the future of cryptocurrency rules. Mark Uyeda, who is seen as friendly to cryptocurrency, has been appointed as the acting chair of the SEC.
Ripple’s legal fight is still ongoing, and April 16 could be a key moment in this critical case. The crypto community is paying attention because the result might change how digital assets are viewed under US securities rules.
Conclusion
Ripple is still battling the SEC in court, but its recent action shows it is committed to seeking clear and fair rules for cryptocurrency. As the court’s ruling approaches, this case is a key test for the future of blockchain development in the US.
