Friday, December 2, 2022
HomeCrypto NewsMarketSEC Requests More Time to Reply to Numerous Amicus Briefs Supporting Ripple 

SEC Requests More Time to Reply to Numerous Amicus Briefs Supporting Ripple 

- Advertisement -
Follow-Us-On-Google-News

 

The securities regulators want a two-week extension to reply to all amicus briefs.


With a dozen amicus briefs submitted in the ongoing Ripple vs. SEC suit, the plaintiff has requested a two-week extension to file a reply to these briefs.

The development was shared by James K. Filan, a former U.S. federal prosecutor.

The Securities and Exchange Commission wants Judge Analisa Torres to extend its reply deadline from November 15, 2022, to November 30, 2022. 

An excerpt of the SEC’s letter read: 

“The SEC respectfully requests that the date for the parties to file their sealed reply briefs be extended from November 15, 2022, to November 30, 2022.” 

SEC Makes Further Requests

The SEC also requested that the court modify the page limits for the parties’ reply briefs from 45 to 55 pages. The agency also requested other time extensions in different areas related to the order for filing reply briefs to the parties’ summary judgment motions.

The request is to enable the securities regulators to go through all amicus briefs submitted by the numerous fintech companies and trade associations.

Furthermore, the SEC also asked the court to order that no additional amicus briefs be filed after November 11, 2022. Meanwhile, Ripple consented to the Securities and Exchange Commission’s requests. 

As reported, a dozen amicus briefs have been submitted in the lawsuit. These amicus briefs explain how the SEC’s suit affects their businesses and the entire U.S. economy.

In reaction to the numerous filings, Ripple’s CEO said it has never been seen to have 12 amicus briefs submitted in a trial-level case. Although 12 amicus briefs have been submitted so far, it is expected that more companies may request to file one in the coming days.

- Advertisement -
Ammara
Ammarahttps://thecryptobasic.com/
Ammara Mubin is a cryptocurrency reporter and trader with vast experience in the industry. Mubin has written several news stories related to the crypto industry, including non-fungible tokens (NFTs), decentralized finance (DeFi), fundraising, mining, etc. Her major focus is covering regulatory events that are capable of shaping the entire crypto ecosystem.

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.

- Advertisment -

Recent News & Articles

Subscribe To Our Newsletter

Get Updated with All The latest Crypto News, Articles, Reviews, Analysis and much more. Delivered Every Monday.