Cryptocurrency lawyer MetaLawMan has raised questions about the status of the Ripple-SEC appeal, suggesting that the Securities and Exchange Commission (SEC) may have missed a crucial deadline.
Did the SEC Forget the Important Deadline?
In a statement, MetaLawMan pointed out that the deadline for the SEC to file a Form C, a necessary document for proceeding with the appeal, passed at midnight on October 16th. The lawyer speculated that this could be due to a mistake by the SEC, a technical glitch, a decision to abandon the appeal, or a potential agreement with Ripple to drop both appeals.
While MetaLawMan believes that the SEC is unlikely to unilaterally abandon the appeal without reaching an agreement with Ripple, the possibility cannot be ruled out. The lawyer’s calculations are based on the understanding that the Notice of Appeal was filed on October 2nd and that intervening holidays and weekends do not affect the deadline.
According to the federal appellate rules, failure to file the Form C by the deadline could result in the dismissal of the appeal. However, the Second Circuit’s local rules state that failure to file the Form C may lead to dismissal.
MetaLawMan emphasized that this information is not legal advice and that he may need to revise his statement if any of his assumptions are incorrect.
In a subsequent update, MetaLawMan shared a statement from Eleanor Terrett, an SEC spokesperson, who confirmed that the appeal is proceeding normally and that the necessary documents will be filed publicly soon.
