US Judge Approves More Amicus Briefs For Ripple and SEC Lawsuit

Several entities have submitted requests to file an amicus brief in support of Ripple in its case against the United Securities and Exchange Commission (SEC).

Reports have it that U.S. District Judge Analisa Torres has finally approved some of such requests. A Twitter post shared by James K. Filan, a former federal prosecutor shows the order.

Parties that got their amicus brief approved include the Crypto Council for Innovation (CCI), Attorney John Deaton (on behalf of XRP holders), Valhil Capital, Cryptillian Payment Systems, and VeriDAO LLC.

Some others like Coinbase, Reaper Financial, Accredify Inc (DBA InvestReady), New Sports Economy Institute (NSEI), Blockchain Association (the Association), and Paradigm Operations also got their motions approved.

Coinbase cryptocurrency exchange took the Ripple community by surprise two weeks ago when it filed for an amicus brief in support of Ripple.

The leading exchange shared its perspective on the case in its request for an amicus brief as an entity that had no choice but to delist the XRP token in light of what it best describes as surprise enforcement from the SEC hurting its customers.

Judge Torres Gives Nov 18th Deadline For Amicus Brief Request

Similarly, Coinbase mentioned that the U.S is put at a disadvantage due to the uncertainty that springs up from its lack of regulatory clarity and the fear of sudden enforcement that crypto companies experience in its region. For the American exchange, the 1930s securities law which the SEC is charging Ripple with did not have digital assets in mind at the time of its drafting.

As it pertains to submitting a request for an amicus brief, Judge Torres has given non-parties until November 18th to submit theirs if interested.

Before these last approvals, the judge set November 11th as the deadline for parties to indicate interest and by that time, up to sixteen requests were submitted. Thirteen of these requests were in support of Ripple while the other three threw their weight behind its opponent, SEC.

U.S-based crypto lobbying organization Blockchain Association has shown full support to Ripple noting that the outcome of the lawsuit is important to the future of the crypto industry. A weekly report shared by CoinShare has also proved investors’ confidence in XRP-tied investment products.