Ripple CLO Clarifies the Purpose of Cross Appeal in XRP Lawsuit

Just ahead of the last minute, blockchain firm Ripple has finally submitted Form C for the cross-appeal in the ongoing XRP lawsuit with the U.S.

Blockchain firm Ripple has submitted Form C for the cross-appeal in the ongoing XRP lawsuit with the U.S. Securities and Exchange Commission (SEC), XRP Lawyer James K. Filan revealed.

The document for the Civil Appeal Pre-Argument Statement (Form C) was shared by Filan on Wednesday.

“The relevant pages are below,” he added.

#XRPCommunity #SECGov v. #Ripple #XRP

@Ripple has filed the Civil Appeal Pre-Argument Statement (Form C).

The relevant pages are below. pic.twitter.com/usm3fCjG20

— James K. Filan ???? (@FilanLaw) October 25, 2024

Following the filing of Form C, Ripple Chief Legal Officer Stuart Alderoty clarified key issues that the company plans to address in this Ripple cross-appeal.

He further stated that the XRP lawsuit is not just about proving whether XRP is a security or not.

The court has classified XRP, along with Bitcoin, as a non-security, and importantly, the SEC is not challenging this ruling, which remains intact, Alderoty stressed.

The Form C submission comes hours after the US SEC requested the court to extend the deadline of its principal brief to January 2025.

Now that the case is in the appeal court, the judge shall review the existing record. The US SEC cannot introduce new evidence or demand additional documents, the Ripple CLO clarified.

“There won’t be the same level of drama as seen during earlier litigation,” he said.

Alderoty also urged the community to stay focused as the SEC’s broader strategy is to create distractions and confusion.

He reassured that the most challenging phase of the legal battle is over, while Ripple’s business continues to grow and strengthen despite the ongoing appeal process.

The above is the detailed content of Ripple CLO Clarifies the Purpose of Cross Appeal in XRP Lawsuit. For more information, please follow other related articles on the PHP Chinese website!