More Support For Ripple; SEC On Backfoot?

The motions for the Summary Judgement in the long running US SEC vs Ripple lawsuit have again grabbed the attention of the global crypto community. However, more individual firms are now trying to get into the XRP lawsuit.

XRP lawsuit to see new entries?

Attorney James Filan informed that I-Remit, a global payment gateway has submitted an application to file an amicus brief in the XRP lawsuit. The firm wants to submit briefs in the support of the Ripple defendants. However, I-Remit uses RippleNet software for the operations.

Another request to file an amicus brief in support of Ripple is submitted by TapJets. The firm is a private jet charter company that accepts XRP in exchange for its services. He mentioned that accepting XRP as payment for its service is vital for TapJets.

Earlier, John Deaton’s request to be an Amicus Curiae was granted by the court. He is representing Ripple’s native token holders in the XRP lawsuit. However, the recent filings suggest that more and more support is pouring into the support of the Ripple.

Now, around 3 parties are trying to submit Amicus Brief to court in the XRP lawsuit. Coingape reported that the Chamber of Digital Commerce submitted motions to file an Amicus Curiae brief in the XRP lawsuit. However, the SEC decided not to take any position on this new entry.

Will court allow this?

XRP holder’s lawyer mentioned that the Digital Chamber’s motion was filed in support of either party. This was the major reason that the SEC did not raise any objection.

While the latest requests filed in the XRP lawsuit are in the support of Ripple. The commission will most certainly file objections to this.

However, he added that the judge may not accept all the briefs filed by the partners. The commission can ask the judge to allow 5-10 pages more to reply. It can also ask for a 1-2 week extension to reply over this.

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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