The American Stock Exchange Association (SEC) has submitted a motion to increase the response time to the briefings of many friends of Ripple Labs applicable to it.

The American Stock Exchange Federation filed a lawsuit against Ripple Labs at the end of 2020, accusing it of selling XRP as unregistered securities. Now, many briefings of Friends of America are trying to prove that the American Securities Fair is not like this.

Earlier this week, Jeremy Hogan, a data encryption expert and scholar, said that the "Friends Briefing" submitted reduced the SEC's case.

"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."

According to James K. Filan, a criminal defense lawyer who has been paying close attention to the case, the SEC has officially stipulated more time to respond to the case.

"SEC v. Ripple - The SEC has clearly put forward a motion to request that the time for submitting the multi-party response briefing be extended to November 30, 2022, and that the people's court order to submit any other Amicus briefing before December 11, 2022. Ripple allows. The new time in the motion."

Stuart Alderoty, Ripple's general counsel, said that American regulators have shown that they are unable to learn, participate in and listen to public suggestions.

"More than a dozen separate voices - group companies, real estate developers, trading centers, collective interest and trade research associations, and retail industry holders - were clearly raised in the SEC v Ripple case, expressing how risky SEC mistakes are

Reply from SEC? We should spend more time, not listening or participating, but blindly choosing sides. "

The high-profile personnel in the field of data encryption from Coinbase, the top trading center in the United States, submitted several "friends" briefings.

Last week, Coinbase tried to apply Ripple's fair notice defense. In this defense, the enterprise fabricated a lie and the regulatory authority could not give it a "fair notice" for violating all laws.

Coinbase's lawyer said,

"Coinbase has formally protested to the SEC and requested to participate in the formulation of rules for the US digital currency industry, so that investors can better understand future estimates and prevent such damage. In the absence of a data asset regulatory framework, Coinbase felt that it was imperative to allow Ripple, who was notified by many parties that they were looking for fair work, to face this unexpected inspection."

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