XRP Just Won Their Right To Keep The Amici Status

XRP has won their right to retain their Amici status, this is a major relief to XRP holders. Judge Torres has denied SEC’s motion to revoke the amici status. Apart from that, Judge Torres has also barred attorney John E Deaton from further proceedings.

According to the letter, “Amici can’t participate in the expert challenge now but may file an application to brief concerns with SEC’s expert at the summary judgment”. The newest development in the Ripple vs. SEC case was shared by James K. Filan, a defense lawyer and formal federal prosecutor.

The date for filing statements on undisputed facts and motion for the summary judgement is on 13 September 2022. In the letter to Judge Torres, the plaintiffs had requested to repeal the amici status. Additionally, SEC also stated,

Movants’ Motion should be denied, and, pursuant to the Court’s broad discretion to permit or deny the appearance of amici. Deaton should be barred from making additional filings or otherwise participating in this case. The SEC may seek further relief from the Court in light of Deaton’s and his followers’ recent conduct.

XRP Lawyer Stays On the Case?

In March 2021, a group of XRP holders led by John Deaton had filed a motion to get involved in this case. This attempt was not accepted by the court last October. John Deaton had continued to pursue that case and wrote another letter to the Members of the House Financial Services Committee alleging that SEC’s action had been causing problems to the community.

James Filan shared this news of win through Twitter. He also mentioned that John Deaton will now be allowed on stay on the case.

The orders of the court also mentioned that movants were allowed to act as amici curiae in October 2021. They were also given permission to brief on legal issues that were in consideration to this case. The assistance could specially help during dispositive motions.

Related Reading | Colombia Launches National Land Registry on XRPL, How Ripple Made It Happen

Judge Torres’ Decision Is Extremely ‘Fair And Just’

John Deaton reacted to this decision positively as he is of the opinion that the community should appreciate and respect the decision.

Deaton also added that Judge Netburn’s decision has been fair and neutral during the discovery phase.

The lawyer also mentioned that the commissions had not objected to token holders in Oakland for producing an expert’s report. It was caused because their XRP holders went against Ripple.

This latest development however, has been a relief to the XRP holders.

An XRP holder mentioned,

This is a win for sure. Although J. Torres denied Amici’s request for Daubert participation, the same purpose will be achieved by SJ participation. And although she implicitly denied access to Doody’s report, SEC already lost that issue re: Daubert motion redactions.

Some of the community members have commented that the Judge Torres’ Denial of Movants’ has caused issues to XRP holders but it is a win because the amici status has remained intact.

Related Reading | By The Numbers: How Much Jed McCaleb Earned For Selling His XRP Since 2014

Featured image from CNBC, chart from TradingView