SEC Wants To Keep Amicus Curiae Out Of XRP Lawsuit; Ripple Replies

Defendants Ripple, Brad Garlinghouse, and Chris Larsen in the XRP lawsuit filed by the US SEC filed their opposition to the latest motion. The reply is related to the request of two firms asking the permission to file Amicus Briefs in the XRP lawsuit.

XRP lawsuit to see new entries?

The US SEC in its reply opposed the I-Remit and TapJets motions to enter the crucial XRP lawsuit as Amicus Curiae. The commission claimed that the proposed briefs are improper attempts to offer evidence.

However, this is outside the constraints of discovery restrictions. This includes the negligence of the rules of evidence and this court’s prior order.

Ripple Defendants have filed the opposition to the SEC’s request. Attorney James Filan mentioned that the defendants have slammed the commission in their filing. Ripple wrote that if the SEC cannot evaluate the accuracy of these claims then it had no business bringing this litigation in the first place.

What does Amicus Curiae want?

The letter mentioned that I-Remit and TapJets are independent third parties. However, they are unconnected to this vital XRP case but are interested in Ripple’s native token. They want to see whether XRP holders expected profits from the defendants’ efforts. While they want to see how the SEC’s theory of this case would as impact their businesses.

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It highlights that both parties have provided the court with details concerning their business operations. However, there is no harm in that. The main objective of amicus briefs is not to repeat legal arguments made by the party. While it is asked to provide the court with extra perspective.

Earlier, Coingape reported that more support is pouring in for the Ripple. This might have sent SEC on the back foot. Both the firms want to submit the brief in the support of Ripple and other defendants.

Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at [email protected]
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