Coinbase To Support Ripple In its Case Against SEC ! Is The End Of Lawsuit Nearing?

Coinbase To Support Ripple In its Case Against SEC ! Is The End Of Lawsuit Nearing?

The post Coinbase To Support Ripple In its Case Against SEC ! Is The End Of Lawsuit Nearing? appeared first on Coinpedia Fintech News

The long-running Ripple vs SEC case finally seems to be coming to an end with SEC’s recent summary judgment filing and Ripple gaining major victory after the US court ordered SEC to hand over Hinman documents. The way the developments are shaping up points heavily toward a possible win for Ripple.

Amidst all these the requests for filing Amicus Curiae briefs for XRP lawsuit are flooding in where more and more individuals and organizations are showing interest. The latest one comes from crypto exchange Coinbase which has requested the court to file an amicus brief in the ongoing dispute between Ripple and the US Securities and Exchange Commission (SEC).

Coinbase Files Amicus Curiae In Ripple vs SEC Case

The same is confirmed by Coinbase’s chief legal officer, Paul Grewal where he asserted that the exchange has asked the Judge to allow the firm to file an amicus brief.

Amicus Curiae is a process wherein the person or organization acts as a friend of the court, assisting the procedure and shall file a brief. Here, the applicants are all in support of Ripple.

Additionally, Coinbase claims that the SEC has failed to keep up with the crypto industry. This move by Coinbase comes after its CEO Brian Armstrong urged the crypto space to come together and collaborate more.

If Coinbase’s request is approved, the firm will enter the list of other firms who have filed Amicus Curiae briefs like SpendTheBits, Investor Choice Advocates Network among others.

It’s been almost two years since the SEC filed a lawsuit against Ripple saying the executives held an IPO of XRP which was an unregistered security when the capital was raised.