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Ripple Gains Another Edge Over SEC, Wins Judges’ Support

Tue, 10/11/2022 - 22:46
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Wahid Pessarlay
Judge Torres rules for I-Remit and TapJets to file their amicus briefs in support of Ripple
Ripple Gains Another Edge Over SEC, Wins Judges’ Support
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Ripple (XRP) has chalked up another victory in the ongoing legal battle with the SEC. In the latest ruling in the case disclosed by XRP proponent attorney James K. Filan, U.S. District Court Judge Analisa Torres, in support of Ripple's motion, granted two third-party defendants' request to file amicus briefs. 

In her brief, Judge Torres stated that the two firms — Philippines-based settlement company I-Remit and U.S.-based on-demand private jet booking platform TapJets —  have till October 14, 2022, to file their briefs. 

"Amici are reminded that their briefs must comply with the requirements set forth in Section IIID of the Court's Individual Practices in Civil Cases," she added.  

The ruling is coming after the SEC had filed a motion for the court to grant it more time and pages in its brief if it granted more "friends of the court" the right to file briefs. In response, Ripple's defendants filed an objection to the SEC's motion stating that the regulator's suggestion is another attempt to delay the resolution of the case. 

Ripple defendants hopeful of closing the case soon

I-Remit and TapJets are both filing their amicus briefs in support of Ripple. Both firms have argued that the SEC's case against Ripple is hurting their business as the XRP Ledger and its native token XRP are key utilities to them. 

The fervid pace of the court proceedings has sparked hope in the XRP community for a resolution of the case to happen soon. U.Today reported that Brad Garlinghouse, Ripple's CEO, has predicted optimistically that the case may be resolved by early 2023.

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About the author

Wahid is an experienced writer, interested in everything decentralized since 2019.

Before joining U.Today, he wrote for some of the top DeFi and CeFi outlets, bringing in millions of views and educating readers with his knowledge of the industry.