SEC Vs Ripple Case Not Completed, Judge Asked to Block Access to Some Important Documents

SEC vs Ripple Case

KANALCOIN NEWS – The United States Securities and Exchange Commission (SEC) has reportedly asked a judge to block some internal documents or records in the SEC vs Ripple case.

Reported by from, the SEC requested that Ripple Labs and its executives not be able to access internal records unrelated to the XRP case.

Ripple as a defendant, admitted by the SEC is not really looking for relevant evidence, but instead is trying to harass the SEC, shift focus from the case, and try to stop the SEC from reviewing documents.

To Judge Sarah Netburn, the SEC has written to have Ripple Labs access blocked from certain documents.

The letter to Judge Sarah Netburn comes because of permission granted to Ripple Labs and its CEO, Brad Garlinghouse, and its co-founder, Christian Larsen, to access certain SEC documents relating to XRP, bitcoin and ether.

In the letter of application, the SEC requested that it investigate external e-mails from 19 custodial banks related to documents regarding the 3 cryptocurrencies.

In addition, the SEC also asked the judge to deny the request of the defendant, Ripple, to access some of their internal communications documents. This is because, Ripple’s request was deemed irrelevant to the case.

The SEC confirmed that it is in the process of complying with the court order and has begun to review tens of thousands of external emails from identified custodial banks, pursuant to the order given.

The court has also asked the parties concerned to meet and negotiate a decision on whether the SEC should issue official documents containing the agency’s policies to XRP, bitcoin, and ether.

However, the SEC claimed that the defendant, Ripple Labs, had ignored the court order and trapped them in an indefinite discovery dispute and document review.

Not to be outdone, Ripple Labs as a defendant finally wrote to the SEC with a list of documents that they considered included in the court order and must be examined by the stock and exchange regulatory agencies.

The list Ripple refers to includes internal e-mails that the court has decided not to review and publish. The e-mail is not only related to XRP, bitcoin, or ether, but also relates to cryptocurrencies in general.

Ripple Labs also requested the inclusion of a 20th custodial bank that is not included in the court order or discussions that have been carried out by the parties concerned.

According to the SEC, this request has crossed the line of paperwork ordered by the court, signaling that Ripple will continue to ignore the court order and make incriminating, unnecessary and endless requests.

The SEC continued that Ripple’s approach was a pattern game and did not indicate that Ripple Labs was actually seeking relevant evidence, but merely aimed to harass the SEC in order to shift the focus of the case and prevent the SEC from reviewing the documents.

Not only that, Ripple’s latest request that the SEC investigate its employees’ personal devices proves that Ripple is diverting the issue from its case.

Based on this, the SEC is seeking to file a request that the courts can detain Ripple to seek evidence irrelevant to the case.


Redaksi Media
Author: Redaksi Media

Cryptocurrency Media

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