June 20, 2024

Lawsuit News

InvestReady Files An Amicus Brief For The SEC Vs. Ripple Case

The Chief Executive Officer of fintech company InvestReady is requesting permission from the court to submit legal papers to support U.S. SEC in its case against Ripple Labs .

Adrian Alvarez claims in Linkedin post that the recent incident involving the cryptocurrency exchange FTX gave him the idea to file a legal brief.

He claims that the report will support the need for regulation of the cryptocurrency market and support the SEC’s allegations that Ripple offered XRP as an unlicensed security. He claimed that to argue for regulation and transparency for this business, he has put up legal grounds for the Ripple vs SEC case. The analysis in the brief covers why he believes it’s obvious that Ripple was indeed a security at the time when it was sold, much like ETH was, and also how ETH has become evidently a product.

 

The filing of numerous supporting documents for the complaint, many from the ICUN, the Bulldog Investors, and the remittance company I-Remit, has already been approved by the U.S. District Judge Analisa Torres.

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