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SEC wants to prevent XRP holders from helping Ripple in its case

SEC wants to prevent XRP holders from helping Ripple in its case

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Answer SEC wants to prevent XRP holders from helping Ripple in its case

The case of the US Securities and Exchange Commission against Ripple continues and the arguments between the two parties are still escalating without any sign of agreement or reaching a settlement, at least for the time being.

Recently the US Securities and Exchange Commission notified the court that it plans to file an objection to the authorization to seek assistance from XRP holders and holders.

Where demanding The SEC panel of Judge Annalisa Torres extended the time until June 7 due to the upcoming holiday and other deadlines for the briefing.

The defendants and Ripple’s attorneys have no objection to the request, which means that the court is likely to approve it.

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Earlier, attorney John Deaton’s request to intervene was denied in October 2021.

The court granted friend status to six XRP holders, making it possible for them to assist the court.

Earlier in May, Deaton asked the court to write a brief on behalf of other members of the community affected by the lawsuit.

The move was in response to the testimony of expert “Patrick Dowdy” from the SEC, whose report aims to explain the motive that prompted Ripple holders to buy their digital currency XRP.

XRP holders claim that it is very difficult to imagine a case more relevant to users and participants as that of Ripple.

They feel that their participation will help to ensure a full and comprehensive presentation of the issue at hand.

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