Ripple Filed April 16 Cross-appeal Brief Request

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The deadline for the cross-appeal brief in Ripple’s ongoing legal battle with the US Securities and Exchange Commission has been officially set for April 16.

Ripple’s legal team member Michael Kellogg stated in a request dated January 23 that the company’s co-founder Chris Larsen and CEO Brad Garlinghouse participated “in this request.”

A party must submit a written legal argument to the court by a short deadline. The appealing party must typically submit a brief within a specific time frame after filing its opening brief. However, the time frame, including any potential deadline extension

This comes after the SEC filed a filing on January 15th, arguing that the New York District Court erred in holding that XRP sold to retail investors did not qualify as securities. In that filing, the SEC  stated that XRP provided as employee compensation and in business details was incorrectly disregarded as a security.  The 2023 New York District Court decision was viewed as a partial win for Ripple.

Ripple’s request has brought attention to this crucial and ongoing legal dispute in the crypto industry. Some, though, thought the SEC would drop the case.

The SEC also had ninety days to prepare its first brief. President Donald Trump appointed crypto-friendly acting Chair Mark Uyeda to lead the SEC. The agency is reportedly considering dropping some crypto enforcement cases.

Olumide Adesina

Financial Market Writer

Olumide Adesina is a French-born Nigerian financial writer. He tracks, analyzes, and reports changes in financial markets with over 15 years of working experience in investment trading.

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