XRP Holders Can't Intervene In SEC's Ripple Suit

By Dean Seal (October 4, 2021, 6:43 PM EDT) -- A New York federal judge ruled Monday that purchasers of Ripple Labs Inc.'s signature digital asset, XRP, could not intervene in the company's closely watched legal battle with the U.S. Securities and Exchange Commission.

U.S. District Judge Analisa Torres said in an order that Jordan Deaton and five other XRP holders could file "friends of the court" briefs in the case given that they, like Ripple, are also pushing for a finding that XRP does not implicate securities laws.

But allowing them to join the case as defendants would be to, in effect, "compel the SEC to take an enforcement action...

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