In its response, the US SEC denied I-Remit and TapJets' motions to join the crucial XRP lawsuit as Amicus Curiae. According to the commission, the proposed briefs are inappropriate attempts to provide evidence.
The reply is in response to a request from two businesses to file Amicus Briefs in the XRP lawsuit.
XRP lawsuit to see new entries?
In its response, the US SEC denied I-Remit and TapJets' motions to join the crucial XRP lawsuit as Amicus Curiae. According to the commission, the proposed briefs are inappropriate attempts to provide evidence.
However, this is outside the scope of discovery restrictions. This covers the disregard for the norms of evidence and this court’s prior order.
The Ripple Defendants have responded to the SEC's request. In their filing, the defendants criticized the commission, according to attorney James Filan. Ripple stated that if the SEC is unable to evaluate the veracity of these claims, it has no business pursuing this case in the first place.
What does Amicus Curiae want?
The letter stated that I-Remit and TapJets are independent third parties. They are unrelated to this crucial XRP lawsuit but are interested in Ripple's native token. They want to know whether the defendants' activities resulted in gains for XRP holders. While they want to see how the SEC's theory of this case will affect their operations.
It emphasizes that both parties have furnished the court with information about their business activities. However, there is no risk in doing so. The purpose of amicus briefs is not to duplicate legal points made by the opposing party. While it is asked to offer additional viewpoints to the court.
Earlier, CoinGabbar reported that Ripple is gaining popularity. This may have put the SEC on the defensive. Both firms intend to file a brief in favor of Ripple and other defendants.
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