Ripple Marks Major Victory, Weighty Support Comes in for XRP Lawsuit

Two king-sized companies, I-Remit and TapJets dive into the XRP lawsuit, with an interest in the outcome of the litigation.
The case has drawn attention from the crypto space for long enough, it is set for conclusion after both battlefronts filed for a summary judgment.

As Ripple labs receive strong backing from big-time companies that are related to the token in different ways, this is believed to pump up Ripple’s victory in the case. James Filan, a Ripple lawyer publicized an official statement made by I-Remit in support of Ripple.

The misguided lawsuit filed in 2020 by the SEC, alleging that the defendants failed to register their offers and sales of XRP or satisfy an exemption from registration. Ripple has disaffirmed the accusation strongly, questioning the conflict of interest of the former SEC executive William Hinman who made a banging $9 million from his time in office as director. Or was this just an abuse of power by Hinman?

TapJets, a private jet company located in Texas, has joined I-Remit in a request to file an amicus brief to give Ripple a helping hand in the crypto legal battle. The brief will allow I-Remit and TapJets to set out legal arguments and recommendations in the legal contest. The brief aims to showcase the utility of the Ripple token XRP.

#XRPCommunity #SECGov v. #Ripple #XRP I-Remit, Inc., a global payment remittance company that uses the RippleNet software, has filed an application to file an amicus brief in support of the Ripple Defendants' Motion for Summary Judgment. https://t.co/CcolPVqBb1

— James K. Filan 🇺🇸🇮🇪 (@FilanLaw) September 30, 2022

The charter has incorporated the XRP payment option. In its interaction with XRP, TapJets says that XRP is vital to the business, it is used for payments around the clock. Using XRP allows the company to sustain business relationships, enabling users to book private jet flights. Earlier this year, the charter had decided to remove XRP from its crypto payment methods due to the extensive lawsuit.

Earlier in 2022, Ripple extended its partnership with I-Remit, the biggest non-bank Filipino-owned remittance company. I-Remit states that in its interaction with Ripple, it never viewed it as a security but as a token for fast and reliable transactions.

#XRPCommunity #SECGov v. #Ripple #XRP TapJets, a private jet charter company, requests to file an amicus brief in support of Ripple. TapJets accepts XRP in exchange for its services. "For TapJets, the acceptance of XRP as payment for services is vital." https://t.co/8BgOJK0USp

— James K. Filan 🇺🇸🇮🇪 (@FilanLaw) September 30, 2022

The supportive action displays the impact that the case is having on the crypto world. If XRP losses the lawsuit, effects on companies like I-Remit and TapJets will be crucial. Tap-Jets tap into the case demonstrates that crypto and XRP are here to stay. The SEC will probably restrict the company from using Ripple. In the letter motion, TapJets asserts that it has no relation with the defendants.