Ripple vs. SEC Lawsuit Sees New Twist
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As a settlement date draws near, the Ripple (XRP) and SEC cases keep evolving. One more interested lawyer has supported Paradigm Operations LP’s motion to intervene in the lawsuit as an amicus curiae on behalf of the cryptocurrency-focused investment firm.
A motion to appear “pro hac vice” on behalf of the investment firm has been submitted by Lewis Rinaudo Cohen, co-founder of the law firm DLx Law LLP, which focuses on blockchain technology. The development was initially reported by attorney James K. Filan, a well-known figure in the XRP community.
Pro hac vice refers to the legal practice of adding an attorney to a case who is not admitted to practice in that jurisdiction. Cohen stated in his filing that he is an active member of the bars in New York and Washington, DC. According to legal protocol, the document also states that he is not now the subject of any disciplinary actions in either state or federal court.
The filings may have come too late, as some XRP community members have noted. This is because they might not have an effect on the judge’s choice anymore. According to others, the filings might be causing the lawsuit, which has already dragged on for too long, to halt.
Ripple and SEC Submit Final Arguments
In the meantime, Ripple and the SEC have submitted their final arguments, asking for the case’s summary judgment. The decision of the case’s presiding judge, Analisa Torres, is anticipated by the global XRP community.
According to attorney Filan, the decision could be made in March 2023. The community anticipates that the price of XRP will soar if this decision goes in Ripple’s favor and investor trust is restored.
The anticipation is based on the regulatory certainty that XRP will enjoy as a result.
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