Legal Expert Slams SEC Bid To Revoke XRP Holders' Amici Status In High-Profile Ripple Case.
21 Jul 2022, 08:00
Legal Expert Slams SEC Bid To Revoke XRP Holders’ Amici Status In High-Profile Ripple Case
The drawn-out litigation between the United States Securities and Exchange Commission (SEC) and the distributed ledger technology company, Ripple, continues to see new developments.
The SEC has filed a letter asking the court to throw out XRP holders’ amici status.
SEC’s Seeks To Bar Token Holders’ Views Defense lawyer James K. Filan took to Twitter earlier today to share a heavily redacted letter submitted by the SEC. In the letter, the regulator requested U.S. District Judge Analisa Torres to rescind the amici status granted to XRP token holders and restrict attorney John E. Deaton from further participation in the legal battle.
The SEC noted that last October, the judge determined that token holders could participate as “amicus curiae” — a party that is not involved in the litigation but is permitted by the court to advise or provide information.