The Chamber of Digital Commerce (CDC) has requested to file an amicus brief in the case of the United States Securities and Exchange Commission v. Ripple Labs and its executives Bradley Garlinghouse and Chris Larsen. Liliya Tessler of the firm Sidley Austin filed a package of documents, including the proposed brief, with the U.S. District Court of the Southern District of New York on Wednesday.
The CDC is the world’s largest blockchain and digital asset trade group, with over 200 members that include industry players, investors and law firms. It argued that the Chamber does not have “a view on whether the offer and sale of XRP is a securities transaction,” but it is interested in “ensuring that the legal framework applied to digital assets underlying an investment contract is clear and consistent,” adding:
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