XRP holders barred from Ripple lawsuit with SEC, get “amici curiae” status

The infamous lawsuit between Ripple (XRP) and the US Securities and Exchange Commission (SEC) is getting a new twist.

A group of XRP holders, led by attorney John Deaton, also an XRP fan, wanted to join the lawsuit as potential victims. However, the judge denied the request:

Judge Analisa Torres denies the request because it would force the SEC to also take enforcement action against the XRP holders. It could also greatly delay the lawsuit while the XRP holders were asking for a quick solution.

However, the XRP holders are not completely excluded. They can participate in the lawsuit in the form of “amici curiae,” which literally translates as “friends of the court.” They will then no longer be part of the lawsuit, but may still advise the court and provide information.

“The court concludes that amici status strikes a good balance between allowing the defendants to assert their interest in this case and allowing the parties to retain control of the trial.”

Still, many XRP proponents see this as a gain. Perhaps there was a fear that they would not be heard at all. Ripple attorney Stuart Alderoty says:

“XRP holders have always said that the SEC’s lawsuit is a direct attack on them. Now it’s official. The Court’s ruling allows John Deaton to share his “meaningful perspective” to help the Court “make the right decision.” Another important (and positive) development.”

Deaton, who also owns the above Crypto Law US, seems to be mainly focused on why ethereum (ETH) once got “exemption” but XRP was not. However, he seems to be avoiding the difference in the degree of centralization between the two cryptocurrencies.

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