Coinbase, a cryptocurrency exchange, has been granted permission for its amicus brief to support Ripple Labs in the ongoing lawsuit with the United States Securities and Exchange Commission.
Monday’s U.S. District Judge Analisa Tores granted motions to Ripple’s 12 supporters to file amicus briefs. Coinbase and Blockchain Association are two of the growing number of supporters. Coinbase has confirmed that it has filed its briefing. The supporters have until November 18th to submit their briefs. Coinbase applied earlier this month to the court to have its amicus brief reviewed. An amicus brief, also known as a “friend” of the court, is a legal document that provides advice or information about a court case from an organization that is not directly involved in the proceedings.

#XRPCommunity #SECGov v. @Ripple #XRP Judge Torres granted motions for Amici Briefs. The formal briefs must be filed by the Association, six XRP holders and Coinbase, as well as the CCI, Valhil Cryptillian, Veri DAOs, Reaper Financial NSEI, Paradigm, and Cryptillian. pic.twitter.com/rb9HdmYVy7
James K. Filan 126k (beware imposters) (@FilanLaw November 14, 2022

The October case between Ripple Labs & the SEC saw a significant breakthrough when Judge Torres ruled in favour Ripple and ordered the SEC hand over the highly-contested Hinman documents. These documents include drafts and emails from William Hinman, former Director of Corporation Finance. These documents contain discovery material from Hinman’s speech in which he claimed Ether and Bitcoin are not securities. Hinman stated in his speech:

According to my understanding of Ether’s current state and its decentralized structure and architecture, current Ether sales and offers are not securities transactions.

These documents are more closely related to the suit against RippleLabs, its former CEO Chris Larson and its current CEO Brad Garlinghouse. The suit was filed by the SEC in 2020. It alleges that Ripple Labs and Garlinghouse – along with Larsen – illegally benefited from Ripple’s native token, XRP, being sold as unregistered securities.
After a week of uncertainty in the crypto market, XRP gained more than 10% and was leading the gains.
Disclaimer: This article is intended for informational purposes only. This article is not intended to be used for legal, tax, investment or financial advice.

  

Coinbase, a cryptocurrency exchange, has been granted permission for its amicus brief to support Ripple Labs in the ongoing lawsuit with the United States Securities and Exchange Commission.
Monday’s U.S. District Judge Analisa Tores granted motions to Ripple’s 12 supporters to file amicus briefs. Coinbase and Blockchain Association are two of the growing number of supporters. Coinbase has confirmed that it has filed its briefing. The supporters have until November 18th to submit their briefs. Coinbase applied earlier this month to the court to have its amicus brief reviewed. An amicus brief, also known as a “friend” of the court, is a legal document that provides advice or information about a court case from an organization that is not directly involved in the proceedings.

#XRPCommunity #SECGov v. @Ripple #XRP Judge Torres granted motions for Amici Briefs. The formal briefs must be filed by the Association, six XRP holders and Coinbase, as well as the CCI, Valhil Cryptillian, Veri DAOs, Reaper Financial NSEI, Paradigm, and Cryptillian. pic.twitter.com/rb9HdmYVy7
James K. Filan 126k (beware imposters) (@FilanLaw November 14, 2022

The October case between Ripple Labs & the SEC saw a significant breakthrough when Judge Torres ruled in favour Ripple and ordered the SEC hand over the highly-contested Hinman documents. These documents include drafts and emails from William Hinman, former Director of Corporation Finance. These documents contain discovery material from Hinman’s speech in which he claimed Ether and Bitcoin are not securities. Hinman stated in his speech:

According to my understanding of Ether’s current state and its decentralized structure and architecture, the current Ether sales and offers are not securities transactions.

These documents are more closely related to the suit against RippleLabs, its former CEO Chris Larson and its current CEO Brad Garlinghouse. The suit was filed by the SEC in 2020. It alleges that Ripple Labs and Garlinghouse – along with Larsen – illegally benefited from Ripple’s native token, XRP, being sold as unregistered securities.
After a week of uncertainty in the crypto market, XRP gained more than 10% and was leading the gains.
Disclaimer: This article is intended for informational purposes only. This article is not intended to be used for legal, tax, investment or financial advice.