Ripple seeks more time to defend in SEC case. Latest updates on Ripple vs. SEC case. SEC argues XRP is not a security. Ripple's legal battle with SEC.
Ripple Labs has requested an extension from the US Court of Appeals and asked for a deadline of April 16, 2025, to submit a defense in the Ripple vs. SEC case. The request was filed recently by Ripple’s legal team and was supported by Chris Larsen and Brad Garlinghouse. The SEC has recently presented its defense, arguing against considering XRP sales as securities. However, a New York district judge ruled in 2023 that XRP is not a security, which was a significant victory for Ripple and the digital currency industry. Nevertheless, the court stated that Ripple violated securities laws in institutional sales of XRP. This case, filed by the SEC against Ripple and its executives in December 2020, is ongoing.
