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The US Appeals Court Sets New Dates for the Ripple Lawsuit
#TopContentChallenge
The United States Court of Appeals has set important dates for the appeals process of Bradley Sostack's lawsuit against Ripple Labs. The plaintiff Sostack needs to submit the Mediation Survey by December 23, 2024. The Court is expecting the Appeal Transcript Order on December 31, 2024, and the Appeal Transcript by January 30, 2025, respectively. The appeals process will begin on March 6, 2025, with the plaintiff's opening statement; Ripple Labs, XRP II, and CEO Brad Garlinghouse will respond by April 7, 2025.
This case is part of the ongoing debate about whether Ripple's XRP token is a security. Previously, in the case between Ripple and the U.S. Securities and Exchange Commission (SEC), the court ruled in July 2023 that the programmatic sales of XRP were not securities. However, it was noted that institutional sales could be considered securities.
As the legal proceedings between Ripple and the SEC continue, the crypto community and investors are closely following the outcomes of the cases. In particular, the $2 billion fine demanded by the SEC in the case against Ripple and Ripple's defense strategy could set a precedent for the industry.
As a result, it seems that the appeal processes of the lawsuits against Ripple will continue in 2025. These developments indicate that regulatory uncertainties persist in the cryptocurrency market and investors need to be cautious.
- The information in this article is never investment advice and is for accurate and up-to-date information purposes. STAY TUNED❗️ Be sure to do your own research❗️