- All of the amici briefs filed in the SEC vs Ripple case was supporting Ripple and the crypto community.
- Ripple CEO Garlinghouse said each of the filings explains the harm SEC will do to the crypto economy.
- Yesterday, the SEC asks the court for an extension amid the 12 amici briefs filed.
Ripple Labs CEO Brad Garlinghouse disclosed that there are 12 amici briefs filed in the US SEC vs Ripple case and each one of those supports Ripple and the crypto community. Garlinghouse also pointed out that if the SEC gets its way, there will be “irreparable harm” to the country’s crypto economy.
For those who aren’t familiar with the term, an amicus or amici is an individual or organization that is not a party to an action but is court-invited or volunteers to advise on a matter before the court.
At the time of writing, the SEC vs Ripple case had a dozen of individual voices, including companies, exchanges, public interest, and trade associations, who filed an amicus brief — supporting Ripple Labs and the crypto community. On the other hand, there is no one supporting the Securities and Exchange Commission.
Yesterday, the SEC has filed a motion to extend the filing of their sealed reply briefs on all parties from November 15th to 30th. Furthermore, the agency also requests the court to order that additional amicus briefs should be filed by November 11, an effort to prevent the need for additional extension requests. Ripple Labs gave its consent, new dates are now in motion.
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The SEC’s response to these amici briefs is to ask for more time to make arguments, which Ripple’s General Counsel Stuart Alderoty described their action’s purpose as “not to engage, but to blindly bulldoze on.”
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