XRP Lawsuit: Judge Blocks S.E.C. Request To Revoke Amici Status

July 27, 2022 10:05 am

This is incredible news for the XRP army!

According to Ripple counsel, James K. Filan, Judge Analisa Torres has blocked the S.E.C.’s motion to revoke the Amici status granted to XRP holders.

Amici status refers to ‘friends of the court’ who can have their concerns posed to the court during ongoing litigation because the outcome presumably affects their life, liberty, or property.

Attorney John Deaton will continue to represent the interests of thousands of XRP investors, who are now threatened by the outcome of the litigation.

Despite this, the S.E.C. shows no sign of letting up and continues to double down on its failed rhetoric and stalling tactics; the case is clear: the S.E.C. is showing partiality to certain crypto assets and not others.

Here are the latest developments:

Crypto Potato explains:

According to the defense lawyer James K. Filan, the motion to prevent attorney John Deaton from further proceedings was also denied. His tweet regarding the same read,

“Amici can’t participate in expert challenge now but may file an application to brief concerns with SEC’s expert at summary judgment.”

 

ZY Crypto comments on what appears to be a losing case for the S.E.C.:

Judge Sarah Netburn referred to the Commission’s antics as “hypocritical” and contrary to its duties of upholding the law. The drawn-out court battle has led several Congressmen to question the regulator where their allegiance lies – whether to the public or for its interests.

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