The latest development could be a boon for regulatory clarity
The Chamber of Digital Commerce wants the court to shape the regulatory framework for cryptocurrencies
The request of the Chamber of Digital Commerce to submit an amicus letter has been approved by the court.
Earlier this week, it filed for permission to file the letter in the SEC v. Ripple case.
CEO Perianne Boring claims that the high-stakes lawsuit provides the client with an opportunity to define the legal framework for the cryptocurrency industry.
Boring believes the resolution of this case will have a significant impact on the US crypto sector.
The head of the Chamber of Digital Commerce has stressed the need for “a clear and consistent” set of rules for the fast-growing industry.
In its briefing, the Chamber of Digital Commerce said it had no insight into whether or not the token is an unregistered security. However, it wants to ensure that the legal framework for digital assets is “clear and consistent”.
In 2020, the Chamber of Digital Commerce also submitted an amicus brief in the Telegram case.
As reported by U.Today, Rippe and the SEC filed motions for summary judgment last week to expedite the lawsuit. The parties believe that there are enough facts for the judge to make a ruling, so there is no need to go to a trial.
Earlier this week, defendants objected to the plaintiff’s suggestion that it might take more time if other amici curias submitted their briefing. Ripple claims it is a “transparent effort” to slow things down.