XRP Lawsuit News: Ripple labs on Friday filed a letter in the US district court supporting its motion in the long running case with the U.S. Securities and Exchange Commission (SEC). It mentioned that a recent Supreme Court case backs its Fair Notice Defense. However, the agency previously argued that the third parties’ views stand irrelevant.
Why Ripple Filed The Letter?
The defendants asked Judge Analisa Torres to appraise the Supreme Court decision at the time of announcing the Summary Judgement in the XRP lawsuit.
Attorney John Deaton, Amicus Curiae in the Ripple Vs SEC case, stated that people speculating that the US SEC has the upper hand as Ripple is still looking to strengthen its position. However, the Supreme Court ruling in the other court came just four days ago.
He hinted that the Judge will be filing the decision in the XRP lawsuit in around 2 months and the Supreme Court ruling should be considered in the Summary Judgment as it is relevant for Ripple’s Affirmative Defense. Read More XRP News Here…
What Will Court Decide?
XRP Lawyer stated that the lack of Fair Notice violates the Due Process clause. However, the major reason behind this late submission revolves around Judge Torres’s findings. If she observes that Ripple both offered and sold XRP as a security. Then this filed Supreme Court decision will provide Ripple’s argument strength to stand.
Deaton claimed that there is no doubt that Ripple will get the Summary Judgement in its favor. While the West Virginia EPA lawsuit is the alone basis that can guide the defendants a win here. However, the latest ruling came at the perfect time.