According to crypto legal expert Jeremy Hogan, the Ripple vs. US Securities and Exchange Commission (SEC) dispute is reaching its “endgame.” According to Hogan, Attorney and XRP enthusiast John Deaton has submitted a letter claiming to represent 67,000 XRP holders.
The strategy aims to reply to the Securities and Exchange Commission’s call for an expert witness to speak on what Ripple investors thought when purchasing the sixth-largest crypto asset. According to Hogan, the endeavor may strengthen the argument for taking a different path. Furthermore, he claims that the relocation might significantly impact the case.
The Court granted XRP holders amicus status, according to Hogan. They must, however, first submit a request to the judge, and Deaton is asking for leave of Court to write an amicus brief in a Daubert case involving Mr. Doody’s expert opinion.
According to Hogan, Amici respectfully asks permission to file an Amicus Brief contesting Plaintiff’s expert, Patrick B. Doody’s, opinions. The Court’s Daubert worries regarding Mr. Doody’s conclusions mirror the tough challenges it foresaw when it awarded amici status. It’s worth noting that ‘Counsel for amici’ recently learned of Mr. Doody’s report on individual XRP holders like amici.
The SEC vs. the Ripple
According to Hogan, the SEC wants an “expert” witness to speak about what XRP purchasers thought when purchasing the cryptocurrency. Deaton also represents 67,000 genuine XRP holders and would want to offer their thoughts. As a result, the Securities and Exchange Commission (SEC) opposes it.
In reaction to the SEC’s employment of an expert to analyze the motivations of XRP buyers, Deaton intends to file a ‘Daubert’ petition. This shows Ripple seeks to discredit the testimony as lacking a “reasonable scientific basis.” Hogan went on.
Hogan says that the timing of the move is his only issue
No official motions to dismiss the expert witnesses have been filed yet. They won’t be due until August 30th. But, if he waits until August 31st, he’ll only have a month and a half to file his motion, gain court authority, and create and file his brief, which is a tight timetable.