Ripple vs. SEC: Garlinghouse Pushes for Pro-Crypto Reforms as Legal Battle Escalates
The SEC has requested an extension in its current appeal action against Ripple Labs. It requested to move the deadline for its primary
The SEC has requested an extension in its current appeal action against Ripple Labs. It requested to move the deadline for its primary brief until January 15, 2025.
Defense lawyer James Filan reported this request in a post on X. Legal experts, including pro-XRP attorney Fred Rispoli, have predicted that the dispute will run until 2026.
#XRPCommunity #SECGov v. #Ripple #XRP The @SECGov has requested that the deadline for filing its principal brief be January 15, 2025. pic.twitter.com/GP13onXwb5
— James K. Filan 🇺🇸🇮🇪 (@FilanLaw) October 24, 2024
This request coincides with Ripple’s highly anticipated Form C filing, which is expected to reveal which aspects of Judge Analisa Torres’ decision Ripple seeks to cross-appeal.
FOX Business writer Eleanor Terrett stated that the Form C was supposed to be filed today, but it has failed to materialize.
The crypto community has been keenly following the SEC’s ongoing legal maneuvering, with many speculating on the reasons for the delays.
Ripple CEO Brad Garlinghouse has openly attacked the SEC for what he sees as overreach which also fuels the public debate over the issue.
Some consider the SEC’s request for an extended deadline to be a legal ploy, while others regard it as a harbinger of future issues in the Commission’s appeal process.
Ripple CEO Brad Garlinghouse Predicts Pro-Crypto Shift in U.S. Following November Election
Moreover, Brad Garlinghouse, CEO of Ripple Labs (XRP), asserts that the US will be considerably “more pro-crypto” following the impending November election.
This is the most significant election we’ve ever had, but I also believe that regardless of what happens, we’ll have a more pro-crypto, pro-innovation Congress than ever before, he told CNBC on Wednesday.
U.S. will be ‘more pro-crypto’ after this election, no matter who wins, says Ripple CEO Garlinghouse https://t.co/M2grbBqrPB
— CNBC (@CNBC) October 24, 2024
During his speech yesterday, Garlinghouse emphasized the necessity for a “reset” in the crypto realm while highlighting the positions of two presidential contenders.
Former President Donald Trump has taken a strong pro-crypto stance, aiming to make America the crypto center of the world. Vice President Kamala Harris, on the other hand, has provided lukewarm support while remaining relatively silent on cryptocurrency issues, according to CNF.
Garlinghouse feels that a new administration, regardless of party background, might lead the charge for more favorable regulatory regimes.
He cited banks’ refusal to deal with crypto firms as “Operation Chokepoint 2.0.” The term relates to an Obama-era initiative known as “Operation Choke Point,” which prevented banks from supplying hazardous but legal businesses like payday lenders and online gambling sites.
That is a hostile administration, and regardless of what happens in the next election, we are going to have a reset, Garlinghouse stated. There is significant disagreement over the magnitude of the reset. We’re going to make progress, and I’m looking forward to it.
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