Latest Development Could Be Boon for Regulatory Clarity

The Chamber of Digital Commerce’s request to file an amicus brief has been approved by the court. 

Earlier this week, it submitted a motion for leave to file the brief in the SEC v. Ripple case. 

CEO Perianne Boring claims that the high-stakes lawsuit presents an opportunity for the client to define the legal framework for the cryptocurrency industry. 

Boring believes that the resolution of this case will have a significant influence on the U.S. crypto sector. 

The head of the Chamber of Digital Commerce has stressed that there is a need for “a clear and consistent” set of rules for the burgeoning industry. 

In its brief, the Chamber of Digital Commerce said that it didn’t have a view on whether or not the token is an unregistered security. However, it wants to ensure that the legal framework for digital assets is “clear and consistent.”

Back in 2020, the Chamber of Digital Commerce also filed an amicus brief in the Telegram case. 

As reported by U.Today, Rippe and the SEC filed motions for summary judgment last week in order to speed up the suit. The parties believe that there are enough facts for the judge to make a ruling, thus there is no need to head to a trial.

Earlier this week, the defendants objected to the plaintiff’s suggestion that it might need more time if other amici curiae submit their briefs. Ripple claims that it is a “transparent attempt” to delay the case.