Federal Judge Analisa Torres has denied XRP holders’ motion to intervene in the U.S. Securities and Exchange Commission’s case against blockchain company Ripple since it would “unduly delay the action.”
There is, however, a silver lining. The movants can now proceed as amici curiae (Latin: “friends of the court”), meaning that they will be able to file briefs:
Accordingly, Movants, in their individual capacities, shall be permitted to act as amici curiae in this action. As such, Movants shall be allowed to assist the Court by briefing legal issues relevant to the case as approved in advance by the Court.
It should be noted that XRP holders are not allowed to offer evidence or present witnesses. Their participation is limited to legal issues to prevent prejudice.
