Ripple Lawsuit: Coinbase Gets Go-Ahead to File Support Brief

The ongoing Ripple lawsuit has taken a significant turn, with Coinbase, a leading crypto exchange in the United States, emerging as a key player. In a move that signals increasing industry support for Ripple, Coinbase has come out in support of Ripple in the XRP lawsuit.

Leading American cryptocurrency exchange Coinbase is seeking permission to file an amicus brief, also known as “friend of the court,” in support of Ripple Labs’ ongoing defense against the SEC. The crypto exchange has filed a request in the court to submit an amicus brief, indicating their strong belief in Ripple\'s position. This action highlights the broader implications of the lawsuit for the entire cryptocurrency ecosystem.

On Monday, Judge Analisa Torres gave a go-ahead to motions pertaining to file amici briefs. The latest order noted, “the requests to file amicus curiae briefs are…” signifying that multiple parties, including Coinbase, are now authorized to voice their support for Ripple.

In the latest filing, Judge Torres authorized Ripple to submit amicus briefs. A written statement providing feedback and suggestions on a legitimate dispute from a group or individual not directly involved in the case, an amicus brief allows Coinbase to present its perspective on the regulatory issues at hand and the potential impact on the industry.

This development is seen as a positive sign for Ripple, demonstrating growing industry solidarity and raising questions about the SEC\'s approach to cryptocurrency regulation. Stay tuned for further updates as the Ripple lawsuit progresses.