Fred Rispoli Unveils The Ultimate Strategy For Ripple To Triumph Over the US SEC
The ongoing litigation between the SEC and Ripple Labs is intensifying, with attorney Fred Rispoli suggesting that Ripple may emerge victorious. Recently, the SEC filed a motion to extend the deadline for its principal brief to January 15, 2025.
Rispoli On Ripple Strategy
Rispoli noted that the SEC often seeks continuances not solely for delay purposes but also due to the high caseload it currently manages. He explained on the ‘Good Morning Crypto Show’ that appeals in this context largely revolve around documentation rather than trials or the introduction of new evidence. Each party submits three primary briefs: an opening brief, an opposition brief, and a reply brief. The present appeal includes both the SEC’s and Ripple’s cross-appeal.
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After these briefs are filed, the court will organize oral arguments, expected to occur in September or October 2025. Rispoli indicated that these sessions could provide initial insights into the judicial panel’s perspective, potentially foreshadowing the final ruling. However, he cautioned that the timeline could be further extended, which is typical within the Ninth Circuit.
Significance of Amicus Briefs
Rispoli emphasized the significance of amicus briefs in this appeal, highlighting their potential to introduce novel insights from third parties that could influence the judges’ decisions. Amicus briefs—filed by non-parties to offer policy or contextual insights—are particularly impactful in appellate courts and can shape pivotal rulings. Unlike most federal cases, crypto litigation is witnessing a surge in such briefs, with Ripple’s case receiving 14, Coinbase’s seeing six, and Grayscale’s garnering eight briefs.
Regulatory Landscape For Cryptocurrencies
Regarding regulatory implications, Rispoli, a vocal critic of SEC Chair Gary Gensler, speculated that Gensler’s possible departure could profoundly affect the regulatory landscape for cryptocurrencies. He suggested that the appointment of Gensler’s successor would be crucial for the industry’s trajectory.
When questioned about the potential for new legislation to render the SEC’s appeal irrelevant, Rispoli acknowledged that well-defined regulations could indeed have that effect. Should Congress enact crypto legislation by the end of this year, effective January 1, 2025, Ripple’s legal team plans to file a notice of supplemental authority with the Second Circuit, asserting the relevance of the new law to their ongoing litigation.
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