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XRP Lawsuit: XRP Has Filed A Memorandum Of Law Against The Commission.

Manoj Nair



XRP Lawsuit

The long-running legal battle between Ripple and SEC, or the US Securities and Exchange Commission, has reached its final stage with the Summary Judgement Phase. The legal wrangling has also attracted other players since it will profoundly impact the cryptocurrency sector. Many more firms are also getting involved in the XRP lawsuit as an Amicus Curiae. Amid this, XRP has filed a Memorandum of law against the Commission.

Ripple At An Advantage In XRP lawsuit?

As per a prominent Crypto Law Site, Ripple has filed legal memos against the SEC’s motion for Summary Judgement submitted on September 13, 2022. Ripple has filed legal notices against the SEC’s counter statement.

However, these documents are not available in the public domain since they have been protected under seal. It has been reported that the SEC will file its opposition to Ripple’s Summary Judgement motion. However, as per John Deaton, Amicus Curiae in the XRP lawsuit has stated that a revised version of the document will be available in the public domain by October 24, 2022.

Both parties are going to meet again on Thursday to discuss redactions. However, some filing will not be available until late December.

The CryptoLaw site further added that Ripple and Defendants have brought in a declaration of Christopher S. Ford in opposition to the SEC’s motion. To strengthen their case, it includes 60 accompanying exhibits. Another order of Erol Gulay with 138 displays also has been submitted by Ripple in the XRP lawsuit.

More Amicus In The Future In XRP Lawsuit?

As already mentioned, the XRP/SEC lawsuit has seen many firms and individuals jumping into the bandwagon and seeking permission from the court to file Amicus Brief. Earlier, the judge permitted I-Remit and TapJets motions to file briefs supporting Ripple.

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