According to Brad Gralinghouse, founder and CEO of Ripple, there have been a total of twelve amicus briefs filed in favor of his firm in relation to their continuing legal dispute with the SEC.
He added that they each describe, in their own particular manner, the catastrophic damage that the SEC will do to every aspect of the cryptocurrency economy in the United States if it is allowed to have its way.
According to Stuart Alderoty, general counsel for Ripple, there have been a dozen independent voices, including corporations, developers, exchanges, public interest and trade associations, and retail holders, all filing in SEC v. Ripple to emphasize how dangerously incorrect the SEC is being. He went on to add that the SEC’s reaction was that they need more time, not to listen or interact, but rather to blindly bulldoze on forward with their plan.
This comes after the Securities and Exchange Commission (SEC) has submitted a motion asking the court to extend the deadline for all parties to file their reply briefs until November 30, 2022. The SEC also requests that the court order any further amicus briefs to be filed by November 11, 2022. Ripple has consented and the new dates have been scheduled.
Since the year 2020, Ripple Labs, the company that invented XRP, and the United States Securities and Exchange Commission (SEC) have been engaged in a protracted legal struggle.
Both the SEC and Ripple Labs have submitted motions for a summary judgment in this matter. The important dispute between the US SEC and Ripple, which is growing more hot, is attracting the participation of several corporate executives who are endeavoring to join in the court proceedings of the case.
