This Company filed Amicus Brief in Support of Ripple

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Blockchain Association tweeted that they have filed an amicus brief supporting Ripple in the lawsuit against SEC.

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According to the association, the SEC has chosen to target crypto through a "regulation by enforcement" pattern.

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The Blockchain Association further states that the SEC is enforcing regulations rather than seeking the opinions of other parties.

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In the series of tweets, it also detailed that they joined the fight with an amicus brief to support the growing crypto ecosystem.

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Also, it mentioned, “Instead, it's time for Congress to define a clear regulatory framework to guide the industry”.

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The SEC believes Ripple deliberately misinterpreted the Howey test portrayed in the company’s summary judgment motion.

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At press time, XRP price today is $0.481282 USD with a live market cap of over $24 billion USD.

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