The U.S. Securities and Exchange Commission (SEC) vs. Ripple Labs legal fight continues to be in focus. Finally, the court set April 16, 2025, as the final date for Ripple to respond to the ongoing case about whether XRP, Ripple’s cryptocurrency, counts as a security.
Earlier this month, Ripple asked the court to establish this deadline for the filing of its appeal and cross appeal briefs. The SEC filed an appeal after a prior ruling said some XRP sales were not securities. The strengthless appeal from the SEC remixes old arguments, and is pushed back by Ripple’s legal team, led by Stuart Alderoty.
The SEC argues in its appeal that the court failed in its prior interpretation, and that the XRP sales from its exchanges should be considered securities. Although Ripple’s team believes their case and feelings hold more weight, they trust that their arguments will defeat the SEC in court. The SEC’s appeal in the Loom case is ‘just noise’, and that it will fail in court, according to Stuart Alderoty.
The crypto community and legal experts have hardly missed the case. The approach taken by the SEC was criticized by attorney Jeremy Hogan, who has closely followed the suit. The SEC has not shown that XRP buyers expected a profit from Ripple’s efforts, he said, noting that some XRP buyers were unaware of Ripple as an entity.
The April 2025 deadline may be seen by some experts as a potential catalyst for both sides to negotiate or even settle the dispute. Some think the SEC could drop the case under a different administration.
In the meantime, the crypto community and XRP community will be watching attentively waiting for this leading case to come to a conclusion.
Also read: Ripple CEO Defends Against Bitcoin Reserve Sabotage Claims
