Judge Analisa Torres has reportedly approved a request for legal counsel by I-Remit and Tapjet to defend Ripple Labs in the ongoing SEC v. XRP lawsuit.
On September 30, money transfer company I-Remit and airline company Tapjets filed suit in US District Court. demanding Submit “Amicus Brief”. The application confirms that the third party provides evidence proving her XRP usefulness in her daily work.
However, the SEC moved against their request on the grounds that Ripple may have influenced the details of the brief.
Ripple accused the SEC of resisting the motion and said the Amicus brief was intended to provide courts with insights not readily available to litigants.
— James K. Filan 🇺🇸🇮🇪 118k (please be careful of impersonation) (@FilanLaw) October 11, 2022
As expected, I-Remit and Tapjet plan to submit an Amicus brief in support of Ripple by October 14, 2022.
Court decision expected by early 2023
Ripple CEO Brad Garlinghouse Said On Oct. 11, the company expects a ruling in response from the ongoing SEC v. Ripple case by early 2023.
“I think we’ll have an answer in the first half of next year. I don’t know if it’s in Q1 or Q2,” Garlinghouse said.
Ripple and the SEC had previously filed summary judgment to force the court to decide using the evidence and arguments already presented.
Ripple’s double win
Recently, Ripple won a court ruling.
The court ordered the SEC on September 30 to release the Hinman documents to Ripple. The document contains evidence that former SEC official William Hinman argued that cryptocurrencies like XRP are not securities.
Approval of Amicus’ easy request is another win for Ripple, as I-Remit and Tapjet provide evidence to prove that XRP is more than just a speculative asset.
Ripple’s XRP is up 1.51% over the past 24 hours, according to CryptoSlate data.