Ripple vs SEC lawsuit: Coinbase gets involved!

The flagship cryptocurrency exchange, Coinbase, has supported Ripple by legally asking permission to help the troubled entity in its protracted legal battle with the Security and Exchange Commission (SEC).

The legal battle between Ripple Labs and the SEC has been ongoing for 2 years, but it should end soon, perhaps as early as the first half of next year.

Coinbase’s legal support filing on the matter was confirmed in a tweet from its chief legal officer, Paul Grewal. In his tweet, Grewal said that Coinbase has “asked Judge Torres for permission to file an amicus curiae brief in the SEC case regarding XRP.”

He noted that the filing of this brief is “a textbook case that shows how essential fair notice is to any reasonable notice of legal process.« 

Earlier today, @coinbase asked Judge Torres for permission to file an amicus brief in the SEC case over XRP. Our point is pretty simple: this is a textbook case of just how critical fair notice is, any reasonable notice of due process under the law. 

READ MORE: Coinbase users will no longer be able to borrow fiat against Bitcoin.

In law, an amicus curiae brief refers to a document provided by a party not directly involved in a case. The document contains information or advice relating to the case in question.

Grewal explained the basis for Coinbase’s claim, stating that it is not normal for authorities to “condemn conduct as a violation of the law without providing fair notice that the conduct is illegal.” He noted that this is enshrined in the U.S. Constitution as a fundamental protection.

Grewal also condemned the actions of the SEC, which made public statements confirming the legality of selling XRP tokens, only to turn around and sue the sellers of those same tokens.

With this filing, Coinbase will join organizations like Investor Choice Advocates Network and SpendTheBits, whose amicus curiae briefs on the same issue were granted last October.

🔴 NEWS – #cryptomonnaie @coinbase has sought leave to file a brief in the @Ripple case that alleges that the SEC did not provide adequate guidance for cryptography.

This story will never end.

Other organizations may join the process, as the crypto community would like this long legal battle to end soon.

Stay in the Loop

Get the daily email from CryptoNews that makes reading the news actually enjoyable. Join our mailing list to stay in the loop to stay informed, for free.

Latest stories

- Advertisement - spot_img

You might also like...