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XRP Lawsuit: Ripple condemns latest SEC reaction to amici

21 Sep, 20222 min readRegulation
XRP Lawsuit: Ripple condemns latest SEC reaction to amici

The two parties have locked horns again in the XRP Lawsuit. Ripple’s legal team has objected to the SEC’s take on the Chamber of Digital Commerce amicus briefs. Ripple condemned the SEC’s behavior about requesting the Court for additional time or pages for additional amici curiae to submit briefs.

“This is yet another transparent attempt to further delay resolution of this case and the Court should reject it.”

What happened this time?

This time the fiasco was set off after the Chamber of Digital Commerce requested an amici status. The SEC decided not to take any “position” in this motion. However, the SEC has requested the Court to grant additional time and/or pages if more amicus briefs are allowed.

According to a request addressed to Judge Analisa Torres, the Chamber of Digital Commerce included copies of its amicus brief motion, memorandum of law, and a declaration from Lilya Tessler, the organization’s amicus brief attorney.

Ripple claimed the SEC should use the allocated space in its opposition and reply briefs to address arguments raised by amici. While addressing Judge Torres, Ripple also stated that the SEC should do so in the already established briefing schedule.

Meanwhile, CryptoLaw founder John Deaton also opined on the matter in a recent tweet. Deaton was enraged toward the SEC and called its latest action as “pathetic and embarrassing.”

He believes the request for delay is targeting the XRP holders which is both “mean and cruel”.

John Deaton’s problems with the SEC have been a theme for much of the XRP Lawsuit.

The claim that SEC lawyers, with all their Ivy League Law Degrees and wealth of experience in securities laws, need more time to respond to the “Twitter Lawyer”, (as they called me) is both pathetic and embarrassing. — John E Deaton (214K Followers Beware Imposters) (@JohnEDeaton1) September 20, 2022

Well, the question is- Where does the case head on from here after Ripple’s latest reply? The Court is likely to extend the SEC’s delays but this will not help in providing a conclusive end to the case whatsoever.

Deaton looks to have made a fair point in his tweet about the SEC’s intentions of targeting the “anxiety” of XRP holders. But it is now upon the SEC to prove if he’s right or not.


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