Support from sector for Ripple causing SEC to ask court for more time to respond

John Deaton assesses the real losses of Ripple as a result of its legal conflict with the SEC

Could it be that the industry is beginning to unite its forces and thus support Ripple in its legal battle with the SEC? There are many indications of this, as the number of Amicus Briefs that have come before the court are causing the SEC to ask for more time to respond.

Amicus Briefs support Ripple

Twelve – that’s exactly how many expert reports supporting Ripple’s side of the story have been filed with the court. This fact is proudly announced by the company’s CEO, Brad Garlinghouse, on his Twitter profile:

“For those counting, 12 (!) amici briefs have been sent. This is unprecedented at this stage. Each one explains – in its own unique way – the irreparable harm the SEC will do to every aspect of the U.S. crypto economy if it gets its way.”

With such a large response, the SEC has asked the court for an extension of time to review these reports and, consequently, further address them. The tentative closing date for this phase of the hearing is November 15, but at the SEC’s request it can be postponed for two weeks, until November 30. 

Further motions and reaction from Ripple

The SEC, faced with so much support from fintech companies as well as crypto exchanges (including Coinbase), has decided to ask the court for further facilities, or in some cases restrictions. One of the facilities would be to increase the page limits for responses to reports, from 45 to 55, and the commission also asked that no further Amicis Briefs be allowed to be filed after November 11.

It’s worth noting that Ripple has decided to support the SEC’s requests, thereby enabling the Commission to seek these approvals in court.

Amicus Briefs – we explain what they are

Amicus Briefs are a fairly important tool in litigation, albeit under different assumptions in different jurisdictions. It is colloquially accepted to call Amicus Briefs “opinions of a friend of the court.” The court has the right to use this type of opinion whenever it does not have complete knowledge in the area in which it is passing judgment. It then seeks expert advice from those who are active in the segment in question.

The Amicus reports that have just been filed come primarily from companies that have been more or less affected by the proceedings that the SEC has issued against Ripple. Among other things, they explain the impact of this lawsuit on both them and the US economy. 

Ripple pointed out that, so far, as many as 12 Amicus Briefs have yet to be seen filed at the trial stage. Importantly, their number could still increase in the next few days.

Disclaimer: Blockbulletin does not take accountability of investments based on the information of the website. We highly advice readers to make extensive research prior to any invest

Share this article

More news


XRP outperforms Bitcoin and Ethereum

In the past week, XRP decisively outperformed its main rivals, Bitcoin (BTC) and Ethereum (ETH), in terms of capital flows. Moreover, it recorded an impressive $2.7 million…

Solana and Avalanche on the eye of investment funds

Two alternative coins, Solana (SOL) and Avalanche (AVAX), are gaining increasing interest and are successively attracting the attention of investment funds. Although bitcoin (BTC) remains the main…
All articles loaded
No more articles to load


Cryptocurrency wallets

Cryptocurrency wallets

We talked about security when trading crypto assets in an article titled “Online security“. We also mentioned how important it…
hardware wallets

Cryptocurrency hardware wallets

From the article titled “Cryptocurrency wallets” you learned about the different types of wallets. They were briefly characterized there. Let’s…
Where to buy cryptocurrency brokers

Which cryptocurrency Brokers to use

In the article “Where to Buy Cryptocurrencies (Exchanges)“, we introduced you to which exchange platforms you can purchase cryptocurrencies on.…
Trading cryptocurrencies

Trading cryptocurrency

In the cryptocurrency market, you face many opportunities to invest in cryptocurrency or buy or sell cryptocurrency. If you want…
All articles loaded
No more articles to load


All articles loaded
No more articles to load

Latest news

All articles loaded
No more articles to load