Ripple CTO Explains SEC Interlocutory Appeal Controversy

Odaily Planet Daily News This week, the SEC submitted an interim appeal application, and Ripple Chief Technology Officer David Schwartz further explained the main controversial issues of the SEC interim appeal. In normal court proceedings, Schwartz said, both parties have the right to appeal any adverse ruling at the conclusion of the proceedings. There are many small decisions in the case, and appeals usually take at least a year. If an appeal is filed every time a dispute arises, the case will drag out for a long time, or there will be many overlapping appeals that both parties need to deal with, while the original case is still in progress. The SEC argues that this is a special case that should be treated differently, that is, the regular litigation process should be suspended until the appeal is completed. In contrast, Ripple contends that no exception should be made and that even if the court allows the SEC to appeal, the case should proceed concurrently.