SEC Vs Ripple: The Final Battle Set For April 16, 2025?

Ripple Labs recently requested the U.S. Court of Appeals for the Second Circuit to set a deadline of April 16, 2025, to file its reply brief in its ongoing litigation with the SEC (Securities and Exchange Commission). This request is part of Ripple’s legal strategy to contest certain aspects of a district court ruling that had favored the SEC regarding the sales of the crypto XRP.

Ripple requests a deadline for its counter-appeal against the SEC

The dispute between Ripple and the SEC began in December 2020, when the SEC accused Ripple of selling unregistered securities by marketing its token XRP. The district court’s ruling in New York concluded that certain institutional sales of XRP constituted investment contracts, hence securities transactions. This led to a substantial fine of $125 million against Ripple and restrictions on its future sales.

In its recent request, Ripple presented the schedule it wishes to follow in this case, underscoring the importance of this deadline to develop a sufficient defense against the SEC’s allegations. Brad Garlinghouse, CEO of Ripple, and Chris Larsen, Executive Chairman, also supported this request. The SEC, for its part, has already submitted its opening brief in accordance with the court’s previous schedule.

Implications on the crypto market

Legal experts, such as Jeremy Hogan of Hogan & Hogan, suggest that these procedural requests are standard yet crucial for the progress of the case. Furthermore, the outcome of this litigation could potentially influence how digital assets are regulated and treated under U.S. securities laws, with broader implications for the crypto market.

In conclusion, Ripple’s request for a deadline of April 16, 2025, for its counter-appeal brief is an important step in its ongoing legal battle with the SEC. This case continues to capture the attention of crypto sector observers, as it could have significant repercussions on the future regulation of digital assets in the United States.