SEC Wants The Court To Revoke XRP Holders’ Amici Status

The U.S. Securities and Exchange Commission has asked the court to revoke the amici curiae status granted to holders of the XRP cryptocurrency.  

A group of XRP holders, led by attorney John Deaton, filed a motion to intervene in the case in March 2021. Although their attempt to intervene in the case was rejected by the court last October, they were granted amici status. This allowed XRP holders to file “friends of the court” briefs.

Deaton asked the court in May to file an amicus brief in support of the SEC’s expert

According to the SEC, the movers’ proposed brief would simply “duplicate” the defendants’ efforts. Furthermore, the SEC has stated that Daubert motions, which seek to prevent the presentation of expert testimony, are not dispositive motions. Ripple recently accused the agency of taking “an extreme position” on expert reports, and of attempting to suppress “substantive criticism.”

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