The U.S. Securities and Exchange Commission (SEC) has not yet filed Form C with the Second Circuit Court of Appeals, which would specify the aspects of the Ripple case it plans to appeal, according to Fox Business crypto journalist Eleanor Terrett. Ripple needs this form to be able to respond to the SEC's objections. Ripple has a 14-day window to file a cross-appeal, but it is unsure whether the SEC will appeal the ruling on programmatic sales or the amount Ripple was ordered to pay for institutional sales. Ripple's Chief Legal Officer Stuart Alderoty has stated that the company is considering its own cross-appeal, potentially challenging the ruling on institutional sales or the $125 million penalty. Both the SEC's appeal and Ripple's potential cross-appeal will be heard as a single case by the Second Circuit Court of Appeals.



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