Payments company Ripple Labs and some of its top executives are objecting to a proposal by the US Securities and Exchange Commission (SEC) to ask for more time or room to respond to a possible new filing.
Ripple Labs, its CEO Brad Garlinghouse and its executive chairman Chris Larsen Told In a September 20 filing that the SEC is engaging in a “transparent effort” to delay the resolution of the lawsuit, the markets regulator alleged that the payments firm issued XRP as an unregistered security.
Should be denied more time or room to respond to additional briefs filed by the SEC, according to the defendants amici curie, The crypto advocacy group Chamber of Digital Commerce earlier this week asked the court for permission to file a justice friend Short.
Respondents Ripple Labs Inc., Bradley Garlinghouse and Christian A. Larsen respectfully submit this letter to the Chamber of Digital Commerce’s motion to file an amicus curiae brief and leave to file the SEC’s response.
The defendants take no position on the proposal of the Chamber of Digital Commerce. However, we write to address the SEC’s suggestion that it seeks additional time and additional pages for its protest if other AMCs summarize the Curie. This is another transparent attempt to further delay the resolution of the matter and the court should dismiss it.
Ripple says the SEC must strictly adhere to the pre-agreed schedule.
“Courts generally do not give parties additional pages to respond to arguments made by the AMC, even in matters of significant amicable interest. The SEC is free to use the space already allotted to it in its opposition and by the AMC. To answer briefly to address the arguments raised, and to do so on an already established briefing schedule, as the defendants are. The Court should not consider the request of the SEC.”
The SEC earlier this week announced its intention to seek more room and time in a courtroom filing Dated 19 September.
“The SEC respectfully submits this response to the leave of the filing of the Amicus Curiae Brief by the Chamber of Digital Commerce. The SEC does not take a position on the proposal, but respectfully requests that, in the event of the proposal, the SEC takes place on October 18, 2022. The SEC may seek further relief from the court (with additional time for its response and/or its October 18 response) In case additional amicus curiae briefs are permitted, including additional pages for protest.”
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