New Form C Deadline Suggests SEC Appeal Against Ripple is Still Alive

FOX Business Journalist Eleanor Terrett reveals a new deadline for the U.S. SEC to file Form C regarding its appeal against Ripple.

There has been speculation that the Second Circuit might dismiss the SEC’s appeal against Ripple. This speculation gained momentum after some experts pointed out that the securities agency missed the Form C filing deadline.

SEC Form C Filing

Notably, the SEC was required to file the Form C within 14 days after it notified the court of its appeal intentions. However, there has been a misunderstanding regarding the appropriate deadline for the Form C filing.

Since the SEC filed its appeal notice on October 2, several crypto experts, including Ripple CLO Stuart Alderoty, asserted that the Form C deadline is set for October 16.

Despite these assertions, the SEC did not file the document yesterday, leading to speculations that the Second Circuit could dismiss the agency’s appeal.

New Deadline

Interestingly, FOX Business Journalist Eleanor Terrett shared a document showing that the Form C deadline has not expired. According to the document, despite the SEC filing its appeal notice on October 2, it was officially added to the Second Circuit’s docket on October 4.

This indicates that the 14-day countdown for the SEC’s Form C filing officially commenced on October 5. Consequently, Terrett asserted that the agency must file the Form C on October 18 at 11:59 p.m. (ET). The delay in the docketing notice extended the deadline from October 16 to 18.

🚨NEW: According to this document filed in the Second Circuit, the @SECGov’s notice of appeal was filed the 2nd but not docketed until the 4th.

So, it seems the real deadline is actually Friday, October 18th at 11:59PM.

🫡H/T to a follower for sending me this. pic.twitter.com/H7TWIgGBl6

— Eleanor Terrett (@EleanorTerrett) October 17, 2024

Top Lawyer Confirms Deadline Extension

Reacting, pro-XRP legal expert Fred Rispoli confirmed that the information relating to the Form C deadline extension is accurate.

Attorney Rispoli stated that he was unaware of the SEC’s docketing notice until an XRP community figure, Horațiu, brought it to his attention.

SEC Potential Appeal

The Form C document would provide insights on what the SEC intends to appeal in the appellate court. Although the SEC has yet to file the Form C, there are speculations that the agency’s appeal revolves around the rulings it lost to Ripple, especially programmatic sales and other distributions of XRP.

The SEC attempted to overturn these decisions in an interlocutory appeal. However, Judge Analisa Torres denied the request for an immediate appeal. Following the issuance of the final judgment and the SEC notifying the court about its intentions to appeal, the agency might resume its bid to overturn these rulings.

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