According to TechFlow, on October 23, Crypto Briefing reported that Ripple suffered a procedural setback in its ongoing legal battle with the U.S. Securities and Exchange Commission (SEC). The U.S. Court of Appeals for the Second Circuit issued a breach notice on October 18, 2024, stating that Ripple’s legal team failed to submit the “Confirmation and Appearance Notice” form on time.

The court has granted Ripple a 14-day extension until November 1, 2024. If Ripple’s lawyers fail to submit the required documents within the new deadline, they may not be able to present their arguments at the upcoming appeal hearing unless they obtain special permission from the court.

Legal expert Fred Rispoli commented that although this delay seems minor, given the high legal costs associated with Ripple payments, it is still a mistake that could have been avoided. He stated: "Ripple's failure to submit the form on time. While not a big issue, when you are paying $8,000 an hour for legal services, you do not want to see this happen."