- According to ex-SEC attorneys, the regulator will almost certainly file an appeal.
- Around two weeks remain for the agency to submit the appeal.
A possible appeal of Judge Torres’ XRP case findings is being considered, according to recent developments in the Ripple vs. SEC lawsuits. Legal counsel asserts that the SEC will wait until the last possible moment to announce its decision. Also, according to ex-SEC attorneys, the regulator will almost certainly file an appeal.
The US Securities and Exchange Commission’s appeal in the Ripple vs. SEC case seemed to be the most certain, according to former SEC attorneys Marc Fagel and James Farrell. The government agency will suffer, they say, if they don’t file an appeal. Two weeks remain for the agency to submit the appeal.
All Eyes on SEC
As the appeal deadline draws near, tensions within the XRP community are rising. Nonetheless, according to attorney Fred Rispoli, the SEC has not yet decided whether to appeal. In addition, he hinted that the deadline could be approaching for any filings or announcements.
Chief Legal Officer Stuart Alderoty and Chief Executive Officer Brad Garlinghouse of Ripple have both said that they have no plans to appeal the decision in the SEC lawsuit. By obtaining a stay order from the court, the firm has effectively postponed paying the agency the $125 million penalty until the appeal is heard.
Judge Torres’ summary ruling on XRP programmatic sales was upheld. And the SEC has signaled in its Binance case filing that there would be no appeal. Despite the judge’s remark that programmatic buyers were no different from secondary market purchasers. The judge did not rule on secondary sales.
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