#Coinbase Posting Support for #XRP!It's almost time for the highly anticipated Ripple case to conclude. Support is large and the #SEC's hand is weakening.
Attorney Hogan's long-standing statement that the case could be over by November 15 was heated up and brought up by Fox. The XRP price, which then increased by 10%, does not seem to have suffered a serious loss. There are some developments regarding the Amicus briefs we announced a few weeks ago. Summaries, which look like pretty good defenses, are now officially available.
Latest Situation in Ripple Case✨
Coinbase is offering an amicus brief to support Ripple Labs amid the San Francisco payments company's ongoing legal battle with the US Securities and Exchange Commission (SEC). The largest U.S. crypto exchange requested permission to submit the digest in late October, and on Monday, U.S. District Judge Analisa Torres ruled that Coinbase and all other parties seeking permission to submit the abstracts are allowed to do so as long as they submit it by November 18. This is extremely important because the defenses made by industry leaders will be in favor of Ripple and if the judge takes these into account, Ripple 's hand can be strengthened.
It has been exactly 2 years since the SEC sued Ripple at the end of 2020. Industry leaders are focused on this case. The decision to be taken will also be decisive for the securities lawsuit to be opened against other cryptocurrencies.
Ripple Defense✨
Coinbase has published an important defense for Ripple, which the SEC is fighting.
“The SEC overlooked this fundamental principle by suing XRP token vendors after public statements implying that these transactions were legal . Over the years since the launch of Bitcoin, Ether, and XRP , the SEC has watched the multi-billion dollar trading markets evolve for these cryptocurrencies, without stating that it considers any of these assets to be 'securities' subject to the onerous restrictions that come with this classification... To ensure that process precedents continue to protect against improper regulatory sanctions where necessary, the Court must reject the SEC's request for summary judgment on this matter.”