XRP Owners' Appeal to Take Part in the Trial Is Granted

by in Cryptocurrency News

SEC vs Ripple

On March 29, the U.S. district court of New York issued an answer to the request made by XRP holders. Judge Analisa Torres approved their appeal to be engaged in the SEC’s lawsuit against Ripple Labs as third-party defendants.

As stated in the released decision, XRP holders can file their motion to intervene by April 19, 2021. By May 3, 2021, the sides shall file documentation and by May 17, 2021, deliver the replies if any.

XRP holders state because of the lawsuit filed by the SEC, they lost around $15 B within a few days. On March 19, Deaton Law Firm presented a letter to the court signed by around 10.000 XRP holders. On March 26, the SEC wrote a letter to the judge claiming there is no point of intervention.

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In this case filed on December 23, 2020, SEC claims XRP is a security. According to the judge's order on April 6, 2021, the sides will hold a telephonic discovery conference to discuss a motion to compel introduced by Ripple’s lawyers.