David Schwartz confirmed the SEC missed its original deadline but doubted it was intentional, calling it a "bizarre move."
New reports suggest the SEC might have an extended deadline until October 18 due to a docketing delay.
Former SEC director Marc Fagel suggested the regulator might have made a mistake, adding uncertainty to the case.
Ripple's Chief Technology Officer, David Schwartz, has shared his thoughts on the ongoing controversy surrounding the U.S. Securities and Exchange Commission's (SEC) appeal in its case against Ripple. The debate intensified after the SEC reportedly missed a key deadline to file its appeal, causing confusion among XRP supporters and raising questions about what might happen next.
https://twitter.com/JoelKatz/status/1846804623585071274
SEC Appeal Deadline Sparks Confusion
Schwartz confirmed the SEC's deadline to file an appeal with the Second Circuit Court of Appeals, which passed by noon yesterday. He emphasized that while he is not an expert on appellate procedures, he believes the SEC would not have intentionally missed the filing deadline. However, the missed deadline has puzzled many in the community, with conflicting reports about what comes next.
SEC Experts Knew the Rules, Says Schwartz
Schwartz reassured XRP enthusiasts that the SEC’s legal team is well-versed in the appellate rules. He pointed out that it seems unlikely the regulatory body would have deliberately failed to meet the deadline. Nevertheless, he acknowledged the odd nature of the situation, calling it a "bizarre move" if it were intentional.
Meanwhile, Fox Business journalist Eleanor Terrett provided new information that the SEC might still have until October 18 to submit its appeal. This revelation came after a notice of appeal filed by the SEC on October 2 was reportedly not docketed until October 4, possibly extending the filing deadline. This new detail has added more complexity to an already confusing situation.
Ripple Community Watches Closely
Adding further intrigue, former SEC director Marc Fagel speculated that the regulator might have made a procedural error. He explained that the court could override certain deadlines but also noted that this case’s deadlines appear inflexible. Fagel's insights have sparked considerable discussion within the Ripple community, which remains eager to see how the SEC's next moves unfold.
