The U.S. Court of Appeals for the Second Circuit has ordered the Securities and Exchange Commission (SEC) to file an appellate brief in the case against Ripple Labs no later than January 15, 2025. This decision was made on October 31, 2024, following a request from the SEC for an extension of the filing deadline.

The court warned that failure to meet this deadline will result in the appeal being dismissed, and any requests for extensions will not change the established date.

Earlier, in October 2024, the SEC filed a notice of appeal on the decision by Judge Analisa Torres, who ruled that the sales of XRP tokens on public exchanges are not considered securities. The SEC argues that this decision contradicts precedents set by the U.S. Supreme Court.

The appellate court's decision to establish a strict deadline for the filing of the appellate brief underscores the importance of adhering to procedural deadlines in this case. The outcome of the appeal is expected to have a significant impact on the regulation of the cryptocurrency market in the U.S. $XRP