The #CryptoCommunitys is following the Ripple vs. SEC case closely, with today, October 16, being an important day as the SEC’s filing of Form C is due. This filing is crucial because it will outline the specific aspects of the case the SEC intends to challenge on appeal.
Once the SEC files its Form C, Ripple will have seven days to submit its own version, which will present the company’s perspective and the points it wants to address in a cross-appeal. Both documents will shape the arguments and strategy each side will take in the extended legal battle, expected to continue for a long period of time.
The case has generated considerable debate on #socialmedia , with $XRP
supporters and crypto enthusiasts sharing opinions and speculating on potential outcomes. A question circulating is what might happen if the SEC fails to meet today’s deadline. Missing this filing date could create a delay or even weaken the SEC’s stance, though many expect the agency will comply with the deadline given the high stakes involved.
A user asked the same question to #chatgpt and the answer was, “If the SEC misses today’s deadline, the case won’t automatically end. It would cause delays, and #Ripple💰 would still wait for the SEC’s next move before deciding on a cross-appeal. Missing the deadline might hurt the SEC’s position but won’t close the case.”
Ripple’s CLO Reveals What’s Next
After both parties have submitted their Form C filings, they will collaborate to set a schedule for the legal brief submissions. The SEC will then have a maximum of 90 days to file its opening brief, outlining its key legal arguments. Ripple’s legal team anticipates that the SEC will use the entire 90-day period, making the submission likely by mid-January 2025.