Ripple samlar mer stöd i sitt fall mot SEC

• SEC lämnade in en stämningsansökan mot Ripple 2020 för att ha sålt oregistrerade värdepapper.
• Ripple har fått stöd från cirka 12 investerare, börser och organisationer.
• Crypto users believe this dispute will decide future crypto regulations and the SEC’s involvement in the industry.

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Ripple’s legal dispute with the SEC seems to be swinging in its favor as more groups have shown support for the blockchain platform. In a recent tweet he posted, Ripple CEO Brad Garlinghouse happily noterade att cirka 12 utvecklare, företag, investerare och börser officiellt har erbjudit stöd till betalningsföretaget.

Several of these individuals and groups have filed amicus briefs, which are legal documents filed in an appeal case to provide a court with extra relevant details. Brad claimed that the briefs, in their own ways, explained “the irreparable harm the SEC will do to every facet of the US crypto economy if it gets its way.”

De SEC submitted a motion on November 3 to extend the deadline for filing all reply briefs until November 30. It requested that any new amicus papers be submitted by November 11. However, Ripple’s representatives have accused the agency of devising a delay strategy through its request. A representative was quoted as saying,

Detta är ännu ett öppet försök att ytterligare fördröja lösningen av detta fall och domstolen bör avvisa det.

According to Ripple’s defense attorney James K. Filan, the most recent amicus brief was submitted by Cryptillian Payment Systems on November 3. Additionally, Veri DAO added its voice to the list of organizations that support Ripple by filing its own amicus brief early this month.

Others on the list include John Deaton on behalf of XRP investors, Coinbase, Valhil Capital, the Investor Choice Advocates Network (ICAN), the Chamber of Digital Commerce, the Crypto Council for Innovation, the Blockchain Association, I-Remit, Spend The Bits, and Tapjets.

The SEC brought legal action against Ripple Labs in 2020, accusing its executives Brad Garlinghouse and Chris Larsen of raising $1.3 billion in unregistered securities offerings by selling its XRP token.

The SEC claimed that XRP is not a cryptocurrency but rather a security, is subject to securities regulations, and falls within its jurisdiction. Crypto users believe Ripple’s dispute with the SEC will hugely affect the industry and set the mood for future regulations in the United States and other countries. It will also establish if a cryptocurrency is a security.

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