News View Non-AMP

XRP Lawsuit News: Expert Reveals Why SEC Won’t Miss January 15 Deadline and Risk Dismissal

Published by
Anjali Belgaumkar

The SEC’s appeal deadline in the ongoing Ripple XRP lawsuit is fast approaching, with the critical date set for January 15, 2025. This comes after Judge Torres ruled that XRP itself is not a security, although the classification of sales depends on the specifics of the contract involved. While the SEC’s appeal could still be filed on time, there’s growing speculation about potential delays or last-minute moves by SEC Chair Gary Gensler before his tenure ends on January 20.

“The SEC has a crucial deadline for filing its appeal in the Ripple case, set for January 15, 2025 — this Wednesday. If the SEC misses this deadline, could the case be dismissed?”

In response to this question, former SEC lawyer Marc Fagel explained that federal lawyers don’t simply ignore filing deadlines. He added that, in his 30 years of litigation experience, it’s extremely rare for any lawyer to file a brief early. As for the Ripple case, Fagel stated that a decision on the appeal could take 10-12 months, unless a new SEC administration decides to dismiss it. Given the current SEC’s stance on crypto, he believes a dismissal is unlikely, but still possible.

When asked whether a dismissal would provide more clarity, Fagel said that a ruling from the Second Circuit Court would be ideal for providing clarity on the issue. A dismissal would still leave the original district court ruling in place, offering some guidance, though it would be limited.

Conclusion:

Despite potential tactics, many believe the future of the case may soon shift under a new administration, as the crypto-friendly environment in Washington grows stronger with figures like Trump-appointed officials and crypto advocates gaining prominence. Even if the SEC takes unexpected action, legal experts agree that it may not have a lasting effect as crypto-friendly policies continue to take shape.

Anjali Belgaumkar

Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto “Enthusiast” but trust me I'm getting there.

Recent Posts

Could XRP Become a U.S. Strategic Reserve Asset?

The idea of the U.S. government holding XRP as part of a national reserve might…

April 22, 2025

Ripple News: XRP Futures Now Live on Coinbase, Is XRP ETF Next?

Coinbase Derivatives, LLC has launched CFTC-regulated futures contracts for XRP, adding to the growing list…

April 22, 2025

Big News: Pro-Crypto Paul Atkins Sworn In as SEC Chairman

In a huge development for the cryptocurrency industry, Paul Atkins has officially been sworn in…

April 22, 2025

Dogecoin Price Analysis: DOGE Faces Another Selloff as Altcoins Weakens Against Bitcoin

The wider crypto market may be attempting to follow the Gold price but the short-term…

April 22, 2025

Circle Payments Network Unveiled: Here is What You Need to Know

The Circle Payments Network will leverage regulated stablecoins led by USDC and EURC. The CPN…

April 22, 2025

Avalanche Card Unveiled: Will It Spark Bullish Momentum for AVAX?

The Avalanche ecosystem has grown significantly in the past year backed by institutional investors seeking…

April 22, 2025