- Ripple and SEC’s appeal process may extend into 2026, impacting the crypto industry.
- Form C filings outline claims and cross-appeals, with briefs expected through mid-2025.
- Ripple expands globally with RLUSD stablecoin, focusing on enterprise payments and DeFi.
Ripple Labs and the U.S. Securities and Exchange Commission (SEC) are entering the next phase of their ongoing legal dispute, with the appeal process expected to extend into 2026.
The case, filed in December 2020, hinges on whether Ripple’s XRP token is a security and whether Ripple conducted unlicensed sales of XRP. As the legal fight progresses to the appeals stage, Ripple and the SEC are getting ready for a lengthy and complex process that could significantly impact the crypto market.
Appeal Process and Form C Deadlines
The SEC’s first step in the appeal process will be filing Form C, due by October 16, 2024. This document will outline the specific claims the agency plans to address on appeal. Seven days later, Ripple is expected to submit its own Form C, outlining its cross-appeal. Ripple’s cross-appeal will address parts of the decision, specifically the ruling that found certain institutional sales of XRP to be unregistered securities transactions.
Both parties will then agree on a schedule for the filing of legal briefs. The SEC will have up to 90 days to file its first brief, laying out its full legal arguments. Ripple’s Chief Legal Officer, Stuart Alderoty, stated that the SEC will likely take the full 90 days, meaning the opening filing is expected by mid-January 2025.
Once the SEC’s document is submitted, Ripple will file its response, followed by its own brief. The filing process is expected to continue through the middle of 2025.
Read also: Ripple Sec Case: Lawyers Explain The Potential For an Appeal
Ripple’s RLUSD Stablecoin
Despite facing legal battles, Ripple continues to expand its global reach through its operations. At its annual Swell conference, Ripple launched its new stablecoin, Ripple USD (RLUSD), linked to the U.S. dollar. The stablecoin targets applications for businesses in payments, asset tokenization, and decentralized finance (DeFi).
Ripple has announced multiple exchange partnerships for RLUSD, establishing it as a crucial resource for companies that need regulated, compliant options. Ripple CEO Brad Garlinghouse has emphasized the increasing need for high-quality, authorized stablecoins, stating that clients and partners are looking for safe, convenient ways to exchange money.
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