The month of October has played an important role in Ripple vs SEC. During this month Ripple gained the most awaited victory against Hinman documents as the court ordered SEC to handover the documents. During this timeframe various individuals and organizations have come forward to file Amicus briefs in the ongoing XRP lawsuit.
Just a couple of days back US District court granted permission for XRP Ledger (XRPL) backed company SpendTheBits Inc (STB) to file its Amicus Curiae in the lawsuit.
Ripple To Win In Ripple vs SEC Dispute
On the other hand, prosecutor Jeremy Hogan has explained that Amicus Curiae is also known as a friend of court and it is usually allowed only in top level courts as these courts deal with difficult issues in the country. Now as the court is allowing for as many Amicus Curiae as possible, he asserts that this indicates the case is more complicated. As the verdict will definitely affect a larger group, attorney Hogan believes more Amicus briefs will affect the case positively.
He further stated that as of now the Amicus Briefs that have been filed stands at 78 and many more are requesting to be one of them.
Meanwhile, as Ripple is finding small wins in the case most of the legal experts believe the US Securities and Exchange Commission (SEC) will see its defeat.
As per Oct 30 statement, senior analyst Roslyn Layton informed Forbes that if SEC gets defeated, the agency will see one of the self-inflicted disasters.
It’s just not Layton, even others like Curt Levey of the Federalist Society and Professor J.W Verret of George Mason University’s Scalia School of Law also believe Ripple will gain victory against the SEC.
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