SEC Likely to Appeal Ripple Ruling as Deadline Approaches

Tensions surrounding the Ripple vs. SEC lawsuit are intensifying as discussions about a potential appeal gain traction.

According to an attorney, the U.S. Securities and Exchange Commission (SEC) may hold off announcing its decision until the last possible moment. Meanwhile, former SEC lawyers suggest an appeal is highly likely, as anything short of it could harm the regulator’s credibility.

The SEC has a limited window to file the appeal, with just two weeks remaining. Lawyer Fred Rispoli speculates that the agency remains undecided but could issue a statement or filing just before the deadline.

Ripple’s leadership, including CEO Brad Garlinghouse and Chief Legal Officer Stuart Alderoty, have denied any plans to challenge the SEC. Ripple has also secured a court stay, delaying the $125 million penalty payment pending the appeal.

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Meanwhile, in the SEC’s case against Binance, filings indicate no intention to appeal Judge Torres’ ruling on XRP programmatic sales. The judge did not rule on secondary sales but remarked that programmatic buyers were similar to those purchasing on the secondary market.

Additionally, Rispoli critiqued Elon Musk for missing an opportunity to confront the SEC by enabling cryptocurrency payments on X, especially XRP, which the SEC has not successfully labeled as a security. He described Musk’s approach as cautious and uncharacteristic. The SEC is now seeking sanctions against Musk for skipping a court appearance related to its investigation into his $44 billion Twitter acquisition.