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:
— James K. Filan 🇺🇸🇮🇪 118k (beware of imposters) (@FilanLaw) October 11, 2022
#XRPCommunity #SECGov v. #Ripple #XRP Ripple slams the SEC and the SEC’s opposition to the I-Remit and TapJets motions to file amicus briefs. “If the SEC cannot evaluate the veracity of such claims then it had no business bringing this litigation in the first place.” pic.twitter.com/MBACAZL01N
— James K. Filan 🇺🇸🇮🇪 118k (beware of imposters) (@FilanLaw) October 5, 2022
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.
Judge Torres has now approved three third parties to join the SEC vs. Ripple lawsuit. The @DigitalChamber remains neutral but stresses the importance of the court decision for the industry. Two are pro-Ripple/XRP and I’m told at least 3 more @Ripple/$XRP advocates will file soon.
— Eleanor Terrett (@EleanorTerrett) October 11, 2022
JUST IN: 🇺🇸 Federal judge grants I-Remit’s and TapJets' requests to file applications to support #Ripple in the SEC case.
— Watcher.Guru (@WatcherGuru) October 11, 2022
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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