The XRP litigation received a shot in the arm when Judge Analisa Torres of the U.S. District Court allowed two third-party defendants’ request to submit amicus briefs in support of Ripple’s motion, as shared by XRP supporter James K. Filan.
Judge Torres wrote in her brief that the deadline for the two companies—Philippines-based settlement company I-Remit and U.S.-based on-demand private jet booking platform TapJets—to submit their papers is October 14, 2022.
Amici are hereby reminded that their briefs must adhere to the standards outlined in Section IIID of the Court’s Individual Practices in Civil Cases, she continued.
The decision was made after the SEC asked the court for more time and pages for its brief if it allowed more “friends of the court” to submit briefs. The SEC’s request was met with an objection from Ripple’s defendants, who claimed that the proposal was just another effort to drag out the case’s conclusion.
In response to the SEC’s stance that “the primary reason for anyone to buy XRP was to speculate on it as an investment,” I-Remit stated in its proposed amicus brief that it neither uses XRP “to speculate on it” nor considers the asset to be an investment.
TapJets too wrote in its letter motion that it is crucial that XRP be accepted as payment for its services. Previously, the court granted the Chamber of Digital Commerce’s request to serve as an amicus curiae in the case last month.
XRP Ledger Lead Developer Share An Important Update
Meanwhile, Wietse Wind, the principal developer for XRP Ledger, claimed that an on-ramp solution has been included in the Xumm Wallet. With the new technology, users will be able to utilize Xumm to immediately purchase the token for fiat using their bank accounts.
Only the Netherlands, where the Xumm Wallet creators are based, currently offers the new product. Wind reveals that there are plans to extend, nevertheless, to Belgium, Germany, and the UK.
The wallet will later receive an off-ramp solution, among other things, to enable the process of selling XRP for fiat currencies. too exclusive a choice.
