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Ripple Gets More Legal Support From Another Company

Investor Choice Advocates Network and SpendTheBits have been granted requests by U.S. District Court Judge Analisa Torres to file amicus curiae briefs in support of blockchain company Ripple, which has been embroiled in a grueling battle with the U.S. Securities and Exchange Commission for nearly two years.

The Investor Choice Advocates Network and SpendTheBits filed requests to submit papers earlier this month in an attempt to strengthen Ripple’s argument.

Individuals or groups who wish to help a court by providing specific information without becoming a party to the case generally file amicus curiae briefs.

The SEC did not take a position on either of the motions described above.

The plaintiffs challenged TapJets Inc. and I-Remit Inc.‘s efforts to file amicus papers in early October. The court, however, granted their requests, handing Ripple a modest victory. Companies were permitted to submit papers to demonstrate the value of the XRP cryptocurrency.

The Blockchain Association has filed a petition to be permitted to file an amicus brief.

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.