Judge Rejects SEC’s Request to Revoke Amici Status of XRP Holders


The most recent ruling comes one week after the US regulator urged the court to withdraw the amicus curiae status given to XRP holders.

The US Securities and Exchange Commission (SEC) and the San Francisco-based blockchain corporation Ripple have taken a new strategy in their legal spat.

Federal District Judge Analisa Torres denied the regulator’s attempt to withdraw the amicus curiae status given to XRP holders.

According to defence counsel James K. Filan, the move to bar attorney John Deaton from participating in future hearings was also refused.

His tweet on the same topic read, “Amici cannot engage in the expert challenge at this time, but may submit a summary judgement application to brief SEC’s expert on their concerns.”

The SEC subsequently stated, “Movants’ Motion should be rejected, and, according to the Court’s broad authority to allow or refuse the presence of amici.

Deaton should be prohibited from submitting any documents or engaging in this matter in any other way.

In light of Deaton’s and his supporters’ subsequent behaviour, the SEC may seek additional relief from the court.” The XRP holders, represented by attorney Deaton, applied to intervene in the lawsuit in March 2021.

The court ultimately denied this, but they were granted amicus status. For the uninitiated, “Amici Curiae” refers to a person or organisation that is not a party to a specific lawsuit but is entitled to provide the court with advice. On July 12, as reported by CryptoPotato, Magistrate Judge Sarah Netburn denied the SEC’s request to shield William Hinman’s speech from publication.

The judge criticised the SEC for its “hypocrisy” in characterising the notorious Hinman speech as private while simultaneously attempting to prevent its publication.

Also Read: Ripple collaborates with a Singapore payments firm to use XRP for cross-border payments

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