SEC Lawyers Exit Ripple’s Legal Battle; XRP Community Sees Victory in Sight

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• Three lawyers representing the United States Securities and Exchange Commission (SEC) have withdrawn from the lawsuit with Ripple Labs and its executives.
• Judge Torres approved the withdrawal of these attorneys and granted permission to add two new attorneys to its legal team.
• The XRP community is confident that Ripple will bag a full victory even in the face of SEC’s interlocutory appeal.

Ripple’s Legal Battle: SEC Attorneys Step Down

The US SEC has seen an exodus of its lawyers in its case with Ripple Labs, with three lawyers identified as Pascale Guerrier, Richard Best, and Robert MacDonald Moye requesting permission for them to be dismissed from the case. The motion was granted by Judge Analisa Torres, who also approved Attorney Michael A. Schuman for Ripple’s Chief Executive Officer Brad Garlinghouse.

SEC Replaces Lawyers With New Team

The U.S. regulator was then granted approval to add two attorneys to its legal team namely Marc J. Jones and Peter Bryan Moores. These two new attorneys join existing attorney Michael A. Schuman on the SEC’s legal team for this case against Ripple Labs and its executives.

XRP Community’s Confidence in Possible Victory

Less than one month after Judge Torres‘ ruling that XRP is not security, pro-XRP lawyer John Deaton reiterated his confidence that Ripple will snag a victory against the regulator’s appeal. Furthermore, he explained why the SEC has been placed in a difficult situation due to their failure to make distinction between different sales of XRP out of thin air as per Judge Torres‘ ruling.

Speculations Surrounding Lawyers‘ Exit From Case

The exit of SEC’s original lawyers has been given many interpretations by members of the XRP community, with some speculating that they do not want their names tied to what may be seen as ‚the wrong side of history‘. Others have suggested that they are quitting before ‚the ship appears to be sinking‘.

Conclusion

Despite the interlocutory appeal motion filed by the US SEC, crypto enthusiasts and pro-XRP entities are still confident that Ripple Labs will come out victorious in this legal battle against the regulators accusations regarding security status of its cryptocurrency – XRP – within US markets/territories.