Coinbase seeks to join Ripple’s legal fight against the SEC
United States-based crypto exchange Coinbase has become the latest organization to stand behind Ripple Labs n its legal battle against the Securities and Exchange Commission (SEC), which could wrap up as soon as the first half of 2023.
Paul Grewal, Coinbase’s chief legal officer in a series of tweets on Oct. 31 said the exchange had asked the presiding judge for permission to file an amicus brief, saying the case was a “textbook” definition of “just how critical fair notice is.”
Earlier today, @coinbase asked Judge Torres for permission to file an amicus brief in the SEC case over XRP. Our point in pretty simple: this is a textbook case of just how critical fair notice is any reasonable notice of due process under law. 1/3 pic.twitter.com/qhSSGrNgJK
An amicus brief, known as a “friend of the court,” is a legal document containing advice or information relating to a court case from an organization or individual that is not directly involved in the case.
Grewal added that a fundamental protection under the U.S. Constitution is that authorities can’t “condemn conduct as a violation of law without providing fair notice that the conduct is illegal.”
“By suing sellers of XRP tokens after making public statements signaling that those transactions were lawful, the SEC has lost sight of this bedrock principle,” he added.
If approved, Coinbase will join the ranks of the non-profit organization Investor Choice Advocates Network and crypto mobile app SpendTheBits which were granted permission to file amicus briefs in October.
Related: ‘Well worth the fight’ — Ripple counsel confirms Hinman docs are in their hands
The filing also comes on the same day cryptocurrency lawyer John Deaton filed a motion seeking permission to submit an amicus
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