The Ripple v SEC lawsuit continues to drag on, with several new faces joining the blockchain payment company in court. Judge Analisa Torres oversees the case in the US District Court and recently allowed Blockchain Association to file an amicus curiae brief. This is notable due to the fact that she recently allowed I-Remit Inc and TapJets Inc to file briefs, followed more recently by SpendTheBits and Investor Choice Advocates Network.
**Update** Coinbase has filed an amicus brief on behalf of Ripple! The brief focuses on the fair notice defense rather than the larger question at hand. Coinbase attacks the SEC for providing no regulatory clarity at all, to the entire space. This is what the fair notice defense (FND) is all about. Even if the case moves to the next judgement, Ripple will argue the entire case is irrelevant due to the absence of fair notice. All of these notable groups and companies supporting Ripple will not be taken lightly by the court.
Blockchain Association Head of Policy, Jake Chervinsky had this to say.
“In short: the SEC is wrong on the law, and its pattern of regulation by enforcement is harmful to both US crypto companies and the investors that it’s meant to protect.”
Amicus curiae briefs are more commonly known as “friends of the court”, where outside parties are allowed by the judge to have their opinion taken into account during a ruling. No briefs have been filed on behalf of the SEC, only in support of Ripple.
This is interesting, as attorney Jeremy Hogan points out because amicus briefs are typically only allowed in higher-level courts. The judge allowing this many outside opinions shows she understands the complexity of this case and the rippling impacts it will have on the entire industry.
These new participants join John Deaton, a representative of tens of thousands of XRP retail holders with these amicus briefs. John is a lawyer who has been involved in the case since the beginning, volunteering his personal time week after week to assist the XRP community in obtaining a fair legal hearing.
With XRP delisted from US exchanges and retail investors badly hurt by the actions of the SEC, things are starting to look up for Ripple in court.
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