Ripple Lawsuit: SEC Appeal Could Delay Decision Until 2026

The US Securities and Exchange Commission (SEC) has formally filed an appeal to Judge Analisa Torres’ final judgment in the Ripple lawsuit. Key figures in the crypto space have quickly commented on the SEC’s move just days before the deadline.

Attorney Fred Rispoli suggested in an X post that the 2nd Circuit Court of Appeals’ decision on the four-year Ripple-SEC lawsuit may not be reached before January 2026. Offering insights on the possible developments in the case, Rispoli argued that the SEC will likely push the brief’s due date, initially set for December 2, 2024, to early January 2025.

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While Ripple is also expected to file its opening brief around the same time, the opposition briefs are expected in early February. However, Rispoli indicated that Ripple might extend this deadline to March 2, 2025. The reply briefs and the oral argument would follow, with a decision expected no sooner than 2026.

The regulator’s appeal was widely expected after Judge Torres ruled a $120 million penalty for Ripple instead of the $2 billion sought by the agency. While many considered the ruling a significant victory for Ripple, many also believe this is just another chapter in the long saga.

In its statement, the SEC said, “The Securities and Exchange Commission hereby respectfully appeals to the United States Court of Appeals for the Second Circuit from the final judgment entered by this court on August 7, 2024.” While anticipated, the news was still disappointing for Ripple’s Chief Legal Officer, Stuart Alderoty, and the broader XRP community.

Potential Amicus Briefs Could Support Ripple

Another crypto voice on X, MetaLawMan, discussed potential amicus briefs that could strengthen Ripple’s position. Influential organizations like the U.S. Chamber of Commerce will likely argue in favor of protecting jobs and innovation in the US, and their participation would hold considerable weight.

Read also: Ripple Expands in UAE with New Financial Services License

Ripple is also expected to receive congressional support from Ritchie Torres and Ro Khanna, who may potentially organize a group to submit an amicus brief. To conclude his post, MetaLawMan stated, “Once the SEC files its statement of issues on appeal, I would expect the process of preparing amicus briefs to begin.”