The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

SEC Loses Bid To Bar XRP Holders From Participating in Regulator’s Lawsuit Against Ripple

by Daily Hodl Staff
July 28, 2022
in Regulators, Ripple and XRP

U.S. District Judge Analisa Torres is allowing XRP holders to remain a part of the U.S. Securities and Exchange Commission’s ongoing legal battle with Ripple.

In a new order, Judge Torres allows XRP holders to retain their status as “amici curiae” in the SEC’s action against Ripple Labs Inc, but she denies them the opportunity to assist in evaluating the qualifications of an SEC expert.

However, she will allow XRP holders to file an application to brief their concerns regarding the SEC’s expert.

#XRPCommunity #SECGov v. #Ripple #XRP BREAKING: Judge Torres denies SEC's Motion to Revoke amici status and bar @JohnEDeaton1 from further proceedings. Amici can't participate in expert challenge now but may file application to brief concerns with SEC's expert at summary judgment pic.twitter.com/fGVf6ZvQma

— James K. Filan ???? 106k (beware of imposters) (@FilanLaw) July 26, 2022

In April 2021, attorney and XRP supporter John Deaton and five other XRP holders, referred to as “movants” in the case documents, filed a motion to intervene in the case “on behalf of all similarly situated XRP Holders.”

Judge Torres ruled last October that XRP holders could not intervene in the case, but she granted them “amici” status.

“Amici Curiae” means “friend of the court,” according to Cornell Law School. Amici curiae can submit documents known as amicus briefs on issues relevant to the case as long as the court approves the briefs in advance.

The SEC filed its lawsuit against Ripple Labs in late December 2020, declaring XRP a security and accusing the San Francisco payments company of selling the crypto asset without proper authorization.

This May, Deaton filed a letter requesting to represent 67,000 XRP holders. The move was a direct response to the SEC wanting to bring in an expert to testify on what XRP holders thought when they purchased the sixth-largest crypto asset.

Recently surfaced court documents indicate the SEC filed a letter to Judge Torres in early June requesting that Deaton and the XRP investors be prevented from filing an amicus brief regarding the opinions of one of the Commission’s experts.

The SEC also requested that Torres prohibit Deaton from any further participation in the lawsuit. The SEC claims the movants’ “amici” status is only permitted on briefings related to legal issues, not factual ones.

Torres, however, didn’t mention Deaton in her order.

Crypto legal expert Jeremy Hogan, a Ripple supporter, says the SEC’s “gambit” failed.

“Not only will Deaton likely be allowed to brief the expert witness issue (just not right now) and NOT be kicked out of the case as the SEC had hoped, but by attacking Deaton personally, the SEC opened the door to the filing of SEC dirty laundry.”

Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Susanitah

Submit a Press Release

Industry Announcements

  • Unizen and DWF Labs Strategic Partnership To Revolutionize Web 3.0 User Experience
    March 31, 2023
  • Core’s Revolutionary Satoshi Plus Consensus Marries Decentralization, Security and Scalability
    March 30, 2023
  • Lost Worlds Launches Version 2.0 of GeoNFTs in Web 3.0 Platform
    March 30, 2023
  • Script Network, SingularityNET and Stacks Bring Practical Solutions to Real-World Issues
    March 29, 2023
  • OKX To Open Office in Australia
    March 29, 2023
  • Metacade Raises Over $14.7 Million As Presale Sets To Close in 72 Hours
    March 29, 2023
  • Binance Expands AI-Powered NFT Generator Bicasso
    March 28, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$27,885.47
$27,885.47
1.34%
Ethereum
$1,774.26
$1,774.26
1.48%
Cardano
$0.372538
$0.372538
3.86%
XRP
$0.536301
$0.536301
2.74%
Dogecoin
$0.07421
$0.07421
2.09%

Spotlight

  • Coin Bureau Names Aave, THORChain and Three Additional Crypto Assets on Its Altcoin Watch List
    March 29, 2023
  • Do Kwon To Be Held in Montenegro for 30 Days As Authorities Investigate Forged Passports: Report
    March 29, 2023
  • Ethereum (ETH) Being Held in Self Custody at Highest Level in History, According to Analytics Firm Santiment
    March 29, 2023
  • Top Trader Says Shiba Inu (SHIB), Dogecoin (DOGE) and One Additional Memecoin Will Run Hard on Next Bitcoin Bounce
    March 29, 2023
NBX Warsaw Summit Banner
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2023 The Daily Hodl