The U.S. Securities and Exchange Commission is yet to pause its appeal against Ripple due to the fact that it is prioritizing cases with imminent court deadlines, according to legal sources cited by Fox Business.
As reported by U.Today, the San Francisco-based enterprise blockchain company requested a due date of Apr. 16 for its opening brief in the cross-appeal against the agency.
The SEC filed its own opening brief in mid-January (just days before the departure of SEC Chair Gary Gensler).
Ripple CEO Brad Garlinghouse was quick to slam the brief as "the definition of insanity." Stuart Alderoty, Ripple's top lawyer, dismissed the SEC's filing as "noise."
Alderoty previously urged the SEC to drop non-fraud cases, and it expects the new leadership to stop the appeal process.
Alex DovbnyaIn fact, Ripple urged the SEC to postpone its brief due to Gensler's resignation, but the agency refused to do so.
As reported by U.Today, the agency recently requested a 60-day pause in the Binance case.
According to a Wednesday report by The Wall Street Journal, which cites a recent court filing, the agency is also preparing to wrap up its high-profile lawsuit against Coinbase.
Fox Business claims that the SEC might be waiting for Paul Atkins to take the reins. As reported by U.Today, Atkins, a former SEC commissioner, was nominated last year, but he is yet to be confirmed by the Senate. The conservative libertarian, who is known for his crypto-friendly views, has been widely praised within the crypto industry.
Last month, Alderoty predicted that the case would be voluntarily withdrawn in 2025.
Dan Burgin
Vladislav Sopov