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A U.S. judge recently requested the Securities and Exchange Commission (SEC) to prevent XRP holders from assisting Ripple’s defense and ban lawyer John E. Deaton from participating in the proceedings anymore. Discarded.
XRP holders can continue to support Ripple defense
As the proceedings against Ripple intensified, a US district judge in southern New York hit the SEC brutally.
On Wednesday, Judge Analisa Torres rejected the SEC’s efforts to revoke the amici status of XRP holders. This means that CryptoLaw founder John Deaton will continue to represent the interests of 67,000 XRP token holders in this case.
According to defense lawyer James Knox Polk, who shared the new development on Twitter, amii is not allowed to participate in the expert challenge at this time, but summary judgment briefly explains concerns about SEC experts. You can apply to do so.
Deaton and other migrants were allowed to act As Amicus Curiae — An individual or organization not involved in the proceedings but authorized by the court to advise or provide expertise and insight — October 2021. At that time, the court ruled that such support would be most useful during a briefing on a negative motion.
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As you know, the SEC is in court Bar XRP holder From participating in the case last week after Deaton submitted an Amikas brief to address Commission expert Patrick B. Doody.
Yet another victory for Ripple
In response to the new development, Deaton said the XRP community should continue to thank the two judges who have presided over the proceedings for many years. He further observed that Judge Sarah Netburn was impartial to both parties during the discovery phase. At the same time, Judge Analisa Torres’ decision was fair and impartial, despite his recent abandonment of his immediate motion.
As for XRP enthusiast Fred Rispoli, “this is definitely a victory.” “J. Torres denied Amichi’s request for Dobert’s participation, but the same goal is achieved with SJ’s participation. She implicitly denied access to the Doody report, but the SEC has already. I lost that problem: Editing Dobert Motion, “he summarized.
As explained earlier, result The outcome of the SEC vs. Ripple proceedings will most likely determine whether XRP is secure. If the court decides in favor of the SEC, it could set a precedent for securities watchdogs to track other cryptocurrency projects that issued and sold tokens similar to Ripple.
Meanwhile, XRP has increased by 9.57% in the last 24 hours and has changed hands at $ 0.37 as most cryptocurrencies are trying to recover. Payment tokens are currently the sixth largest cryptocurrency with a market capitalization of $ 18 billion.
https://zycrypto.com/ripple-scores-yet-another-win-as-court-deals-blow-to-secs-bid-to-remove-67000-xrp-holders-from-suit/ Ripple wins yet another victory when a court transaction hits the SEC’s bid to remove 67,000 XRP holders from the proceedings ⋆ ZyCrypto