Lawyer James Filan said that the Blockchain Association has formally filed its amicus brief in Ripple (XRP) SEC lawsuit. “The SEC’s extremely broad interpretation of the securities laws would have devastating effects on the industry,” the filing said. Earlier, Judge Analisa Torres granted motions to file amici briefs to multiple supporters of Ripple and the SEC. The judge allowed 11 applicants to file the briefs — the association, six XRP holders, Coinbase, Valhil, Cryptillian, Veri DAO, the CCI, Reaper Financial, InvestReady, NSEI and Paradigm.
The Blockchain Association works on major litigation regarding blockchain issues. It advocates for a public policy environment to help blockchain networks thrive in the U.S..
XRP’s Chances
On November 7, attorney Jeremy Hogan predicted that the SEC’s motion for summary judgment might not get approval over several claims. He said the commission cannot meet the burden of the Howey test. The Howey Test is a criterion the U.S. Supreme C
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