Judge Torres Allows Ripple Allies to File Amicus Briefs
Ripple Allies Granted Permission to File Briefs
Judge Analisa Torres has approved the motions for Ripple's allies to file amicus briefs in the ongoing lawsuit against the SEC. This decision marks a significant development in the case, allowing more than 13 entities to officially support Ripple's stance.
Key Supporters in Ripple's Corner
Several prominent entities, including Coinbase, the Crypto Council for Innovation (CCI), Valhil Capital, and others, have joined forces to back Ripple. Each must submit their formal briefs by November 18, 2022. This collective effort underscores the widespread support Ripple enjoys within the cryptocurrency community.
John Deaton's Involvement
John Deaton, founder of Crypto Law, has actively participated by preparing to file briefs on behalf of XRP holders. He has encouraged the XRP community to engage with the content of these briefs, highlighting how influential platforms like CNBC and Coinbase have promoted XRP.
SEC's Limited Backing
In contrast to Ripple's robust support, the SEC has garnered only three supporters for its case. This imbalance highlights the growing solidarity within the crypto sector in opposition to the SEC's stance.
Speculations and Rumors
Amidst these legal proceedings, rumors about a potential settlement between Ripple and the SEC have surfaced. Although a notable media outlet initially reported a possible settlement, it was later clarified as inaccurate. Nonetheless, speculation continues to circulate about the future of the lawsuit, with expectations for a resolution by mid-2023.
Conclusion
The judge's decision to allow Ripple's allies to file amicus briefs is a pivotal moment in the Ripple vs. SEC lawsuit. It underscores the extensive support Ripple has garnered, further intensifying the legal battle's dynamics. As developments unfold, the crypto community remains vigilant, anticipating the lawsuit's outcome and its implications for the broader market.
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