Six holders of XRP, a crypto asset, are working on the lawsuit brought against Ripple Labs by the Securities and Exchange Commission (SEC).

In a "Friends of the Court" newsletter, six XRP holders pointed out that if the SEC well discussed that the seventh largest crypto asset by market value was securities, every relevant person in the crypto industry would be infringed.

Friends of the Court means "friends of the court" in Latin

"Amici curiae respectfully submits this newsletter, and if SEC files a lawsuit against XRP well, SEC will have the right to control many non stakeholders, including data asset trading centers, real estate developers, dealers and the general users and holders of XRP, including Amici.

This will well harm the entire secondary market of XRP, and may affect all crypto financial markets.

Although the American Stock Exchange Federation took this inspection as a test case to expand its jurisdiction, millions of innocent holders were harmed. "

Six holders indicated that the SEC's lawsuit against Ripple at the end of 2020 had caused thousands of XRP holders to lose access to their encrypted assets.

XRP holders further fabricated lies. Although some users of the seventh largest crypto asset by market value are likely to purchase it as a project investment, this is not Ripple's instruction.

"There is no doubt that many people buy XRP for the purpose of trading. There is no doubt that XRP is actually for project investment, generally with BTC and Ethereum. However, XRP holders do invest in projects, not because of Ripple.

However, due to widespread accusations, the life savings and retirement accounts of more than 1000 poor holders were frozen, and XRP could not be converted into BTC, Ethereum or US dollars. "

Coinbase Exchange and the Blockchain Association of the Advising Team in the field of encryption are one of the other organizations that announced this week to submit the amici newsletter applicable to Ripple or boycott the SEC.

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