XRP Lawsuit Update: Ripple to Respond to SEC’s Interlocutory Appeal Today!
Ripple’s much-anticipated response to the SEC’s motion for an interlocutory appeal is due tomorrow, Sep 1st. If you are wondering what an “interlocutory appeal” is. Don’t worry, it’s just a fancy legal term. Basically, the SEC wants the judge to change her mind about some of her earlier decisions related to Ripple. They think those decisions were wrong and need another look.
Clearing Up Confusion
Some people thought that the SEC had already started their appeal. But that’s not true. What really happened is that the judge gave the SEC permission to write a formal request for an appeal. That’s it—nothing more has happened yet.
Crypto lawyer John Deaton, pro-XRP lawyer and founder of CryptolawUS, has laid down his prediction cards. Appearing at the XDC Live blockchain industry conference in Texas, Deaton said he believes Judge Analisa Torres will deny the SEC’s interlocutory appeal and suggested that the SEC will have to wait until late 2024 to file a full appeal
Ripple isn’t sitting idly by, waiting for the drama to unfold. They’ve already asked Judge Torres to deny the SEC’s initial plans to appeal. And it’s a safe bet to assume that Ripple will oppose the motion again before the September 1 deadline.
After Ripple submits its response, the SEC has a week to address any raised issues. For Judge Torres, it’s an opportunity to reinforce the integrity of her initial rulings. According to Deaton, she’ll likely use this occasion to prove why her decisions are grounded in evidence and legal precedent.
Now all eyes are on Ripple. Will Ripple make a strong argument? Will the SEC have to wait even longer to get what they want? Tune in tomorrow to find out.