Ripple Appealed Against The SEC Decision

Ripple appealed against the SEC decision. The lawsuit between Ripple and the SEC continues with new developments.

New developments continue to occur in the lawsuit between Ripple and the US Securities and Exchange Commission (SEC). This time, Ripple argued that the court should reject the SEC's request for a deadline extension. Ripple CEO Brad Garlinghouse and co-founder Chris Larsen wrote a letter to judge Sarah Netburn. In the letter, he argued that the court should reject the U.S. Securities and Exchange Commission's request for a deadline extension. As a reminder, the SEC filed a petition on March 21 requesting an extension to the discovery process. In addition, the defendants reiterated that they thought the SEC had delayed the resolution of the case long enough. The court rejected the SEC's request to bar Ripple from using a fair notice defense. Additionally, the defendants argued that the SEC had delayed the resolution of the case long enough and that no further discovery was needed. As a final reminder, Garlinghouse recently said that he is optimistic about the outcome of the closely watched legal battle after the court rejected the SEC's move to offer Ripple's fair warning defense.