Jeremy Hogan, a legal expert on data encryption, said that the amicus curiae quotation filed by the American Stock Exchange Association (SEC) in the lawsuit mentioned by Ripple seriously damaged the SEC's case.

Hogan indicated that in the lawsuit mentioned by the market management authority against Ripple, the introduction of the "Friends" case enhanced Ripple's case, saying that XRP was an unregistered security.

"When you suddenly see this" friends "briefing, you can see one thing, that is, some of them want to make up for Ripple's system vulnerabilities, while some of them produce a new system vulnerability in the view of SEC."

Hogan took the amicus briefing submitted by the digital currency payment application software SpendTheBits as an example to show that the document verified XRP Ledger, a blockchain technology that uses XRP as the original digital currency, and is blockchain technology.

“The short content of this article makes people understand some things very clearly.

First of all, everyone can use XRP Ledger. XRP is just like you have a key. In addition, Ripple can't even control who applies XRP Ledger, which makes it sound very decentralized. More like open source projects

[Chief Judge] probably doesn't know much about blockchain applications, but he knows that the specific content described in this briefing certainly doesn't sound like a security at all. "

The data encryption legal expert cited a friendship briefing submitted by I-Remit, a money remittance enterprise, and said that it confirmed that the important reason for purchasing XRP was neither price speculation nor investment purpose.

"Take a look at what harm this briefing does to SEC's argument, that is, the main reason why everyone chooses XRP is simply to guess the price

"I-Remit and tens of thousands of daily applications of XRP to carry out cross-border fund transfers are basically living proof. I-Remitt neither uses XRP for speculation nor believes that XRP is an input whose actual value estimates will change over time."

You have a real business discussing the actual primary use of XRP. "

According to Hogan's statement, the SEC's lawsuit against Ripple has become a fishing competition for the market management organization's encrypted space.

"It is a good thing and a good thing for the blockchain community to apply such interests and hobbies. I am very glad that this case has become a fishing contest and focus against the dictatorship of the SEC to some extent."

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