FOX business journalist Eleanor Terrett has revealed a new deadline for the U.S. SEC to file Form C in its appeal against Ripple.
Speculation About SEC's Appeal Being Dismissed
There have been rumors that the Second Circuit Court might dismiss the SEC's appeal against Ripple. These speculations gained traction after some experts noted that the SEC had allegedly missed the deadline to file Form C.
SEC's Obligation to File Form C
The SEC was required to file Form C within 14 days after notifying the court of its intention to appeal. However, confusion arose about the exact deadline for filing the form.
The SEC filed its appeal on October 2, and experts in the crypto space, including Ripple's Chief Legal Officer Stuart Alderoty, believed that the deadline for Form C was set for October 16.
Despite these claims, the SEC did not file the form by that date, leading to speculation that the appellate court might dismiss the agency's appeal.
New Deadline for Filing Form C
Interestingly, Eleanor Terrett shared a document indicating that the deadline for filing Form C had not yet passed. While the SEC filed its appeal on October 2, the appeal was officially docketed by the Second Circuit on October 4.
This means the 14-day countdown for the SEC to file Form C officially began on October 5. According to Terrett, the SEC now has until October 18, 11:59 PM (ET) to submit Form C. The delayed docketing extended the deadline from October 16 to October 18.
Lawyer Confirms the Deadline Extension
Pro-XRP legal expert Fred Rispoli confirmed the accuracy of the extended deadline information. Rispoli admitted that he was unaware of the SEC's docketing delay until informed by XRP community member HoraÈiu.
What Does the SECâs Potential Appeal Mean?
Form C would provide an overview of what the SEC plans to challenge in the appellate court. Although the SEC has not yet filed the form, there is speculation that the appeal will focus on the court decisions that favored Ripple, particularly regarding the programmatic sales and other distributions of XRP.
The SEC has already tried to overturn these rulings through an interlocutory appeal, which was denied by Judge Analisa Torres. After the final judgment is issued and the SEC informs the court of its intent to appeal, the agency may continue its efforts to reverse these decisions.
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