As Bitcoinist reported, the number of supporters for Ripple Labs in its legal battle with the U.S. Securities and Exchange Commission (SEC) is steadily increasing. Following the 11 entities that already sent an amicus to the court yesterday, another one has been received by Judge Analisa Torres with the amicus letter from Veri DAO LLC.
The U.S. Securities and Exchange Commission seems to have felt increasingly pressured by this. A document filed a few hours ago indicates that the regulator has filed a motion to extend all deadlines.
Ripple has already agreed to the new timeline, leaving only Judge to grant her approval. In light of the overwhelming support from the crypto industry, Ripple CEO Brad Garlinghouse tweeted:
For those of you keeping count, 12 (!) amici briefs submitted. It’s unprecedented (I’m told) to have this happen at this stage. They each explain – in their own unique way – the irreparable harm the SEC will do to every facet of the US crypto economy if it gets its way.
Stuart Alderoty, general counsel at Ripple added:
A dozen independent voices – companies, developers, exchanges, public interest and trade assoc.’s, retail holders – all filing in SEC v Ripple to explain how dangerously wrong the SEC is. The SEC’s response? We need more time, not to listen or engage, but to blindly bulldoze on.
These Is The New Schedule For Ripple Vs. SEC
In the letter to the court, the SEC requests the court to order the modification of the deadlines for the filing of reply briefs to the parties’ motions for summary judgment and the sealing of the summary judgment papers.
In light of the pending amicus briefs, the SEC seeks to change the date for the parties to file their sealed reply briefs for summary judgment from November 15 to November 30.
The date for the briefing to determine redactions in reply briefs is to be changed from November 17 to December 2. Likewise, the deadline for submitting public redacted reply briefs is to be postponed from November 21 to December 05.
In addition, the deadline filing of collective motions to seal all proposed redactions for all summary judgment material is now scheduled to end on December 22. Oppositions to the omnibus motions are to be extended from December 22 to January 9.
In addition, the SEC is requesting that all additional amicus briefs are due to be filed by November 11, 2022.
Ripple’s list of supporters now includes Coinbase, I-Remit, the Chamber of Digital Commerce, the Crypto Council for Innovation, Valhil Capital, the Blockchain Association, Spend The Bits, Tapjets, the Investor Choice Advocates Network (ICAN), John Deaton on behalf of over 75,000 XRP investors, Cryptillian Payment Systems and Veri DAO LLC.
Source: https://bitcoinist.com/ripple-sec-files-motion-to-delay-case-new-dates/