Ripple Gets Reinforcements Against The S.E.C!

October 12, 2022 10:39 am Comments

Ripple Labs continues to win individual battles in its ongoing lawsuit with the S.E.C.

Yesterday, Judge Analisa Torres ruled that two, third-party firms could file amicus briefs on behalf of Ripple. The two firms are I-Remit and TapJets.

Previously, the S.E.C. had sought to block both these firms from entering the case. Both firms claim that the ongoing lawsuit is hurting their business ecosystems.

Judge Torres has denied many of the S.E.C.’s stall tactics and has sided with Ripple in court much of the time, it would appear as if the S.E.C. is no longer on stable footing in the ongoing battle.

Ripple’s C.E.O., Brad Garlinghouse, predicts that the lawsuit will be over and we will finally have an answer sometime next year…

Here are the latest developments:

U Today explains:

I-Remit and TapJets are both filing their amicus briefs in support of Ripple. Both firms have argued that the SEC’s case against Ripple is hurting their business as the XRP Ledger and its native token XRP are key utilities to them.

Bitcoin.Com presents the projected timeline for the resolution of the case:

Garlinghouse said he expects the lawsuit to reach a conclusion next year, elaborating: We’re seeing pretty good progress despite a slow-moving judicial process.

“Clearly we’re seeing good questions asked by the judge. And I think the judge realizes this is not just about Ripple.

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