The U.S. Confusion arose when discrepancies were noted between the dates on the SEC’s Form C and the court’s time stamp, leading to speculations that the agency may have missed the appeal deadline.
However, an SEC spokesperson assured FOX Journalist Eleanor Terrett that the documents were filed on time. Ripple Labs is facing charges of promoting and selling XRP cryptocurrency as securities. The SEC claims that Ripple’s executives, including CEO Brad Garlinghouse and President Chris Larsen, raised $1.3 billion through their sales of XRP through exchanges.
Ripple Labs has refuted these claims, arguing that the SEC did not provide any clear regulations on cryptocurrencies. Securities and Exchange Commission (SEC) has filed an appeal against the summary judgment ruling on Ripple Labs in a lawsuit. The outcome of the appeal is expected to be announced next week, and Ripple CEO Garlinghouse remains optimistic on the outcome.
