Stuart Alderoty, the general counsel of Ripple, recently shared the steps and timeline of Ripple’s appeal against the U.S. Securities and Exchange Commission (SEC) in an interview with The Crypto Basic.
Alderoty outlined the process that Ripple will undergo as they challenge the SEC’s lawsuit. He mentioned that the first step will be to file a response to the SEC’s complaint, which is due by mid-September. Following this, there will be a discovery phase where both parties will exchange evidence and information relevant to the case.
Alderoty also discussed the potential timeline for the appeal, stating that it could take anywhere from six months to a year for a decision to be reached. He emphasized that Ripple is committed to fighting the SEC’s allegations and believes they have a strong case.
Overall, Alderoty’s insights provide a clear picture of the legal battle ahead for Ripple as they seek to defend themselves against the SEC’s claims.