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HomeCrypto NewsMarketPhilippines-Based Remittance Company To Support Ripple Against SEC In Ongoing Lawsuit

Philippines-Based Remittance Company To Support Ripple Against SEC In Ongoing Lawsuit

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Philippines-Based Remittance Company I-Remit Requests to File Amicus Brief in Support of Ripple Against SEC.

Another company has declared support for Ripple in the ongoing legal battle against the Securities and Exchange Commission.

I-Remit, a global payment remittance company and a user of Ripple’s On-Demand Liquidity (ODL) service, has requested permission to file an amicus brief supporting the leading blockchain company’s motions for summary judgment.

“I-Remit respectfully requests that the Court grant it leave to file an amicus curiae brief in this case. The Court’s adjudication of Ripple’s pending Motion for Summary Judgment will have broad implications for the large and rapidly growing cryptocurrency industry,” the company stated in its motion.

I-Remit’s Interest in the Lawsuit

According to I-Remit, its interest in the lawsuit is because it uses the RippleNet software to facilitate cross-border settlements in the Philippines. The company also noted its heavy reliance on XRP is among the reasons it is interested in the lawsuit.

“I-Remit has deep knowledge of these technologies that will aid the Court’s evaluation of the arguments advanced by the U.S. Securities and Exchange Commission,” the remittance company added.

More Support for Ripple

The development comes a few weeks after the Chamber of Digital Commerce requested permission to file an amicus brief supporting the defendants.

Since Ripple and the SEC did not object to the request, the court granted the Chamber of Digital Commerce’s request to file an amicus brief.

Recall that the SEC noted that if another third-party requests to file an amicus brief in the lawsuit, it will seek more time and extra pages to respond.

With I-Remit’s interest in the lawsuit, the parties are expected to state their opinions on the request before the court gives its decision.

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Lele Jima
Lele Jima
Lele Jima is a cryptocurrency enthusiast and journalist who is focused on educating people about how the nascent asset class is transforming the world. Aside from cryptocurrency-related activities, Jima is a lover of sports and music.

Disclaimer: The content is for informational purposes only, may include the author's personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

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