The motion for Ripple to file an amicus brief in the lawsuit was on Monday, November 14th, approved by Judge Analisa Torres. The Southern District of New York will begin accepting amicus briefs in the Ripple case from November 18th.
Although Coinbase (NASDAQ:COIN) leads the charge, other companies including I-Remit, Valhil Capital, SpendTheBits, Chamber of Digital Commerce, TapJet, ICAN, and Cryptillian Payment Systems will also be filing amicus briefs.
Two weeks ago, we reported that the leading crypto exchange, Coinbase, had asked the court permission to file an amicus brief (a friend of the court brief) in the ongoing XRP vs SEC lawsuit.
Although briefs would officially be accepted from November 18th, James K. Filan, an attorney specializing in securities litigation and regulatory compliance, has announced that Coinbase has officially filed its amicus brief. Filan tweeted:
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In its earlier filing, Coinbase wrote that government agencies cannot condemn conduct as a violation of law without providing fair notice. Coinbase also notes that the SEC’s inconsistency created “uncertainty” for crypto companies.
The approval and Coinbase filing provided a boost for XRP, with the asset rallying by 11% in the last 24 hours to trade as high as $0.386.
The 24-hour price chart for XRP. Source: CoinMarketCap
Ripple Labs continues to garner support in its fight against the SEC, with many expecting the ruling to be in favour of the company.
Find more details about Coinbase’s earlier filing in:
Coinbase Stands with Ripple in SEC Case, Requests to File Amicus Brief
Read about Ripple’s latest milestone in:
Ripple Now Holds Less Than Half of the Total XRP Supply in a Huge Milestone
See original on DailyCoin
Source: Cryptocurrency - investing.com
