In an exciting development… Ripple seeks to reveal that SEC employees own XRP coins
The content site is one of the sites that provide the service of answering general questions and solving puzzles and crossword puzzles
Where the content site is primarily interested in answering your questions in all areas, including solving puzzles and crossword puzzles
Answer In an exciting development… Ripple seeks to reveal that SEC employees own XRP coins
The legal struggle continues between Ripple and the US Securities and Exchange Commission (SEC).
Recently, Ripple’s lawyer revealed that SEC employees own XRP, which they claim is an unregistered security.
Ripple move:
On August 27, a statement Attorney James Phelan unveiled a new proposal from Ripple that requires the Securities and Exchange Commission (SEC) to submit documents relating to the disclosure of the properties of its employees and that they are holders of the digital currency XRP.
This request and proposal comes in response to four previous meetings Ripple had with the Securities and Exchange Commission regarding this issue throughout the summer, all of which have been going without progress.
Read:Crypto.com is partially disclosing its cryptocurrency reserves to dispel bankruptcy rumors
The application was submitted on behalf of Ripple and on behalf of Bradley Garlinghouse (CEO of Ripple) and Christian A. Larsen.
The defendants wish to collect documents that reflect the SEC’s trading decisions regarding XRP, Bitcoin and Ethereum.
They are also looking for information specifically related to the property of an SEC employee and his possession of XRP, to be produced with redacted personal information or in aggregate form.
As part of its move, Ripple clarifies that the SEC has not adopted or imposed any rules restricting its employees from trading in cryptocurrency until January 16, 2018.
This, according to the company, is in line with the authority’s previous views on cryptocurrencies and that it did not view them as securities.
This leaves SEC employees with a huge amount of time to collect XRP, says Ripple’s lawyer.
As a quote from Ripple’s request:
At all times from 2013 until at least January 19, 2018, SEC employees were free to buy, sell and own XRP without any restrictions from the SEC.
The court gave the SEC until September 3 to respond to Ripple’s request.
Read:The UAE and Chinese banks join the Central Banks Digital Currency Initiative “CBDC”
The legal battle continues:
The latest news is just the next step in an ongoing legal war between Ripple and the SEC, which seems to have not yet resulted in the deadline for the resolution and broadcast of the decision in this case, which holders of the digital currency XRP are looking at with anticipation for what it could have, either negative or negative impact. positive.
Read also:
Ripple requests extension after SEC emergency proposal
What you need to know about scams targeting XRP holders
And you can ask questions on the content site through the word “Ask a question” at the top of the site, where we answer your questions in a short time