• Three US SEC lawyers have withdrawn from the legal battle with Ripple Labs.
• The SEC has approved two new attorneys to join its legal team while Ripple’s CEO Brad Garlinghouse has also added a lawyer to his team.
• The XRP community is optimistic that Ripple will prevail against the SEC’s interlocutory appeal.
Ripple’s Legal Battle: US SEC Lawyers Step Down
The United States Securities and Exchange Commission (SEC) has seen three of its lawyers step down in its case against Ripple Labs and its executives. Attorney Pascale Guerrier, Richard Best, and Robert MacDonald Moye have all requested permission to be dismissed from the case, which was granted by Judge Analisa Torres on August 23rd.
SEC Replaces Attorneys With New Team
The SEC has moved quickly to replace these attorneys, receiving approval for Marc J. Jones and Peter Bryan Moores to join its legal team. In addition, Judge Torres also approved Michael A. Schuman as lawyer for Ripple’s Chief Executive Officer Brad Garlinghouse on the same day.
XRP Community Optimistic About Victory
The departure of these lawyers has been interpreted differently by the XRP community, with many expressing confidence that Ripple will be able to achieve victory even in light of the SEC’s interlocutory appeal against Judge Torres’ ruling that XRP is not a security. Pro-XRP lawyer John Deaton reiterated his belief that this would be achieved before any resolution is made on the appeal itself.
Attorneys Avoiding Wrong Side Of History
Some crypto enthusiasts have suggested that the lawyers may be trying to avoid being associated with what they think could be a losing side of history. One Twitter user claimed that these lawyers do not want their names tied to “the wrong side of history” while another suggested they were leaving before “the ship appears to sinking“.
Despite some speculation about why certain individuals are choosing not to take part in this case, one thing remains clear: The XRP community remains confident that Ripple will come out on top no matter what happens next in this ongoing legal battle between it and the US SEC.