SEC Missed the Deadline in the Ripple War!

Marc Fagel, a legal expert and former SEC director in San Francisco, has attracted attention with his recent Ripple statements.

A legal expert has commented on the recent development in the SEC’s lawsuit against Ripple, a cross-payment provider that uses XRP.

As reported by Kriptokoin.com, the legal battle between the regulator and the crypto company has reached the appeal stage. Moreover, the deadline for filing an appeal passed last week. The SEC filed a delayed appeal. So, that’s when the drama unfolded. In other words, the SEC missed the deadline.

However, passions seem to have subsided today as the Second Circuit Court of Appeals issued a notice of default in the SEC v. Ripple case.

Notably, the suddenly revealed document revealed that the court did not receive the Notice of Acceptance and Appearance from the appellant’s counsel. If they fail to file this document within 14 days, they may not be allowed to present oral arguments during the appeal unless the court allows it.

So is it all over? The twist continues!

Many in the XRP community perceived this as a blow to the SEC. Also, social networks were quickly flooded with exclamations of “game over”.

But, surprisingly, the document has nothing to do with the regulator, but with Ripple. According to Fagel, it has nothing to do with the SEC. It is also directed at “respondent/appellant” Larsen, whose lawyer failed to file a timely appeal on the matter.

This was later confirmed by another legal expert, Fred Rispoli. This time he said that Ripple failed to file a timely form.

Fred Rispoli made the following statement on the matter:

This time Ripple failed to file a form on time. Not a big deal, but not the kind of thing you’re excited to see when you’re paying your legal team a collective $8,000 per hour.

This time Ripple failed to file a form on time. Not a big deal but also not the kind of thing you are thrilled to see when you are paying a collective $8,000 per hour from your legal team.

Garanti to expand crypto services with BBVA and Ripple

Turkish bank Garanti BBVA has entered into a strategic cooperation with Ripple and IBM. Through this, the bank aims to bring high performance and security to its crypto asset trading platform. Following its successful pilot last year, the bank wants to expand its services to its entire customer base of more than 14,000 users.

Garanti aims to leverage key technology collaborations to ensure the best performance, security and customer trust. Thus, the Turkish bank will use the combined solution of Ripple Custody and IBM.

Thus, it will build and manage an enterprise-level management infrastructure with end-to-end security. This will help them protect their applications, data and private keys, the banking giant said. Aaron Sears, Senior Vice President of Global Customer and Partner Success at Ripple, said:

“We are excited to partner with Garanti BBVA Crypto to support the development of Turkey’s vibrant crypto asset market. Secure custody is fundamental to unlocking value and meeting the growing demand for new asset classes across the digital economy. We are committed to supporting our clients around the world to strengthen the digital asset market with our secure and compliant services.

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