With a big victory for XRP holders, Judge Analisa Torres rejected the request to revoke Amichi status from future proceedings of the US Securities and Exchange Commission (SEC).
Will XRP lawyers participate in the proceedings?
Attorney James Philan used Twitter to share this major development in the significant Ripple vs. SEC proceedings. He said John Deaton, who had defended XRP holders, was allowed to stay in the case.
He added that Amici is currently unable to participate in the Expert Challenge. However, summary judgment can apply for a brief discussion with a committee expert.
According to a court order, Movants was allowed to act as Amicus Curiae on October 4, 2021. He also gave permission to explain legal issues related to the case. He emphasized that such support can prove useful during briefings on negative movements.
Deaton says the judge has made a fair decision
In response to this progress in the case, Deaton said XRP community needs to be grateful And respect the two judges. He added that Judge Netburn’s decision was neutral and impartial to both pastes during the discovery phase. But Judge Torres’ conclusion is correct. Meanwhile, she technically denied his immediate move.
XRP lawyers have revealed that the Commission did not oppose Auckland token holders by having expert reports. This happened because XRP holders sued Ripple. Deaton said the proceedings identified five such owners.
Meanwhile, in this case, he has about 69,000 XRP holders. The SEC said they couldn’t get it and tried to get him out of the case.
On the market side, the proceedings have long affected the price of XRP. Token prices have risen slightly by 1.2% in the last 24 hours. XRP is trading at an average of $ 0.336 at the time of press. However, with a market capitalization of $ 16.25 billion, it is still in the top 10 cryptocurrencies.
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