{"id":32258,"date":"2022-07-21T05:59:42","date_gmt":"2022-07-21T09:59:42","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=32258"},"modified":"2022-07-21T05:59:45","modified_gmt":"2022-07-21T09:59:45","slug":"sec-opposes-xrp-owners-helping-with-ripple-defense","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/sec-opposes-xrp-owners-helping-with-ripple-defense\/","title":{"rendered":"SEC opposes XRP owners helping with Ripple defense"},"content":{"rendered":"\n
The SEC wants to prevent specific “friends of the court” who support Ripple from offering legal assistance to the defense as the lawsuit against Ripple continues.<\/h5>\n\n\n\n
\"SEC
SEC opposes XRP owners helping with Ripple defense<\/figcaption><\/figure>\n\n\n\n

The Securities and Exchange Commission (SEC) <\/a>of the United States is attempting to prevent Ripple (XRP) holders from supporting Ripple's defense and forbid attorney John E. Deaton from participating in any further proceedings.<\/p>\n\n\n\n

The regulator objected to the selection of John E. Deaton and 1,746 XRP holders as “amici curiae” in an official objection made on Tuesday.<\/p>\n\n\n\n

Amici (plural: amici curiae) is Latin for “friend of the court” and refers to a person or organization that is not a party to a lawsuit but is allowed to support a court by offering knowledge, insight, or assistance. In this instance, in defense of Ripple.<\/p>\n\n\n\n

Deaton has 3,252 affidavits signed by token owners who effectively claim that they are losing money as a result of the SEC's case against Ripple.<\/p>\n\n\n\n

In the affidavits, holders assert that they either failed to accept legal responsibility for purchasing XRP, bought the tokens for use rather than for investment, or failed to buy in response to promises made by the business and its personnel.<\/p>\n\n\n\n

The commission objected to XRP holders\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, saying they were attempting to operate outside of absolutely legal constraints. The SEC reported:<\/p>\n\n\n\n