Ripple Wins Over Legal Feud with SEC!

XRP cryptocurrency. (Photo; Doc. CryptoCoinne)

JAKARTA – Ripple's feud with the US Securities Commission (SEC) is nearing its end. However, currently, both parties are in dispute with the legal assistance of two companies, I-Remit and TapJets, in providing support to Ripple. Meanwhile, the SEC rejected the actions of the two companies.

In this case, the trial judge Torres Analysis issued a decision to grant Ripple in the motion amicus curiae. I-Remit and TapJets as third parties can submit their statements no later than October 14, 2022. This is another win for Ripple.

In his brief, Judge Torres stated that the two companies - Philippines-based settlement company I-Remit and US-based private jet booking platform TapJets - had a deadline of October 14, 2022, to file their briefings.

"Amici are reminded that their directives must comply with the requirements set out in Section IIID of the Practice of Individual Courts in Civil Cases", Judge Torres said.

Information regarding Ripple's victory was disclosed by James K Filan in his Twitter post, on October 11, 2022.

According to U.Today, the ruling comes after the SEC filed a motion for the court to give the court more time and pages in its brief if it grants more "court companions" including the right to file a briefing.

In response, defendant Ripple filed an objection to the SEC's motion alleging that the regulator's suggestion was another attempt to delay the settlement of the case. The Ripple defendants hope to end this legal feud soon. I-Remit and TapJets both submitted their amicus briefs in support of Ripple.

Both companies argue that the SEC's case against Ripple is detrimental to their business because the XRP Ledger and it's native token XRP are of primary utility to them. The exciting steps of the litigation have sparked hope in the XRP community for an immediate resolution of the case.

Previously, Ripple CEO Brad Garlinghouse expressed his optimism regarding the development of the Ripple vs SEC case. Garlinghouse assesses the legal battle will end early next year.