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Ripple chief legal officer Stuart Alderoty says the recent filing by the US Securities and Exchange Commission (SEC) in its case against Ripple Labs does not appeal the ruling that XRP is not a security.
Alderoty’s comments follow an Oct. 16 Form C filing by the SEC with a pre-judgement statement against certain aspects of the court’s summary judgment.&nbsp;
<img decoding="async" src="https://www.bitcoinsistemi.com/wp-content/uploads/2021/03/ripple-xrp.jpeg" alt="Huge Move from Ripple! New Ethereum (ETH) Based Product Introduced! - Bitcoin Sistemi">
<h2 id="span-style-font-weight-400-alderoty-says-court-decision-regarding-xrp-s-security-status-stands-as-the-law-of-the-land-span">Alderoty Says Court Decision Regarding XRP’s Security Status “Stands As The Law Of The Land”</h2>
Ripple defense attorney James Filan shared the <a href="https://www.dropbox.com/scl/fi/crwpyc21zreohtj33opxt/SEC-Form-C.pdf?rlkey=a8lphikodtuh7ihz5eulgrln2&amp;e=1&amp;dl=0" rel="noopener noreferrer nofollow">filing</a> on Oct. 17. In their appeal, the SEC asks the court to review its decisions related to Ripple’s XRP sales through exchange platforms. It also requests the court to review the ruling on the personal sales executed by Ripple executives Brad Garlinghouse and Chris <a href="https://insidebitcoins.com/news/xrp-price-climbs-2-after-ripple-co-founder-chris-larsen-donates-1m-xrp-to-kamala-harris-while-this-new-ico-goes-parabolic" rel="noopener noreferrer nofollow">Larsen</a>.
The SEC went on to argue that Larsen and Galinghouse violated securities laws by offering and selling XRP. It also said that they both “aided and abetted Ripple’s violations of those provisions.”
Alderoty responded to the SEC’s request by saying that the court’s decision regarding XRP’s security status “stands as the law of the land.” He added that the fintech firm intends to file its own Form C next week.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 No surprises here — once again it’s been made clear. The Court’s ruling that “XRP is not a security” is NOT being appealed. That decision stands as the law of the land.
 Stay tuned for Ripple’s Form C to be filed next week. <a href="https://t.co/m9molUGSBv" rel="noopener noreferrer nofollow">https://t.co/m9molUGSBv</a>
 — Stuart Alderoty (@s_alderoty) <a href="https://twitter.com/s_alderoty/status/1847065095580332223?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">October 18, 2024</a>
</blockquote>
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<h2 id="span-style-font-weight-400-sec-ripple-case-expected-to-continue-through-july-2025-span">SEC Ripple Case Expected To Continue Through July 2025</h2>
According to a timeline shared by Fox Business producer Eleanor Terret on X, the Ripple <a href="https://insidebitcoins.com/news/ripple-ceo-brad-garlinghouse-vows-to-fight-sec-appeal-over-xrp-court-ruling" rel="noopener noreferrer nofollow">SEC</a> case could carry on well into July next year. After Ripple files its own Form C next week, both the regulator and Ripple Labs will need to “agree on a briefing schedule.”&nbsp;
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 🚨NEW: Just had a great chat with <a href="https://twitter.com/s_alderoty?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@s_alderoty</a> of <a href="https://twitter.com/Ripple?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@Ripple</a> who gave me a rundown of the appeals timeline.
 📌The <a href="https://twitter.com/SECGov?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@SECGov</a>’s last day to file Form C (which will give some level of detail about what it plans to appeal) is tomorrow.
 📌Seven days later, Ripple will file its own Form…
 — Eleanor Terrett (@EleanorTerrett) <a href="https://twitter.com/EleanorTerrett/status/1846295141792825569?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">October 15, 2024</a>
</blockquote>
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Thereafter, the SEC will have up to 90 days to file its first brief according to Terrett, who cited Alderoty. She added that Alderoty believes the regulator will take advantage of this period, and try to only make its filing at the end of the 90 days. Thereafter, the full briefing process “will go through July 2025,” according to the Ripple legal chief.
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SEC’s Latest Filing Does Not Appeal Court’s XRP Security Status Ruling, Says Ripple Legal Chief

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