The BlockchainAssn asked a court for permission to file a friend-of-the-court brief in the SEC's case against Ripple, arguing that the SEC's interpretation of how tokens are traded may have a negative impact on the broader industry. nikhileshde reports
The Blockchain Association, a crypto lobbying organization based in Washington, D.C., filed for permission to support Ripple as a friend of the court in its ongoing defense against the Securities and Exchange Commission late Friday.
A memorandum of law in support of the motion for leave said its actual brief points out different uses of crypto tokens within the industry, rather than just Ripple itself.SEC, Ripple Call for Immediate Ruling in Suit Over Whether XRP Sales Violated Securities Laws Much of the brief focuses on the question of how broadly securities laws apply to tokens outside of initial sales.