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XRP Holders Granted Permission to File Request for Motion to Intervene in SEC vs Ripple Case

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Tue, 03/30/2021 - 06:36
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Yuri Molchan
SEC’s attempt to prevent the XRP community from intervening in the SEC vs Ripple case has been rejected by court, a request to intervene can now be submitted
XRP Holders Granted Permission to File Request for Motion to Intervene in SEC vs Ripple Case
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The U.S. district court in New York has greenlit John E. Deaton (who acts on behalf of the XRP community) to file a request to submit a motion to intervene in the legal battle initiated by the SEC against blockchain giant Ripple Labs and two of its high profile executives: Garlinghouse and Larsen.

The request should be submitted by April 19. In case the plaintiff, the SEC, has any response papers, those must be filed by May 3, according to the order.

The official response of the court will be announced on May 17.

Related
Judge Denies XRP Holders' Motion to Intervene in SEC v. Ripple Case

Earlier, U.Today reported that judge Analisa Torres had denied the request from the XRP community to file a motion to intervene in the legal fight between the regulator and the DLT behemoth.

The SEC initiated the lawsuit against Ripple on Dec. 21, accusing the company of selling unregulated securities (referring to the Ripple-affiliated XRP token) since the company was founded.

Legal complaints were filed against Ripple Labs, its cofounder and former chief executive Chris Larsen and current chief Brad Garlinghouse.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.