In their case against “SEC” … Ripple officials refuse to provide their foreign trade records
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Answer In their case against “SEC” … Ripple officials refuse to provide their foreign trade records
The back-and-forth continues between the US Securities and Exchange Commission (SEC) and Ripple.
Jorge Tenrero, a senior attorney for the US Securities and Exchange Commission (SEC), told Ripple CEO Brad Garlinghouse and Ripple co-founder Chris Larsen that they refused to provide any documents related to their accounts in foreign trading platforms, through See their letter addressed to Judge Sarah Netburn.
Confirms “Tinrero” that the defendants refuse to hand over these records even though they contain many facts indicating that they were trading outside the United States.
The SEC alleges that Larsen and Garlinghouse have moved hundreds of millions of XRP to at least ten foreign trading platforms apart from those in the USA.
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Follow foreign trading platforms and Ripple partners:
The US Securities and Exchange Commission (SEC) has sent a large number of Memorandum of Understanding (MOU) requests to foreign regulators.
The SEC is trying to obtain documents from 14 cryptocurrency exchanges, five companies using Ripple’s on-demand liquidity (ODL) solutions, and an investor who bought XRP directly from Ripple.
In the face of Ripple’s arguments, the SEC claims that federal securities laws do not restrict its ability to send orders to foreign regulators, stating:
Federal securities laws do not limit the SEC’s ability to submit requests to foreign regulators once the SEC has filed a civil lawsuit against any particular party.
The law does not distinguish between requests sent during a civil enforcement procedure for the purposes of obtaining evidence in an ongoing investigation and those sent for the purposes of litigation.
According to the aforementioned source, three foreign regulators refused to disclose their contacts with the US Securities and Exchange Commission, while two of them stated their refusal to provide any assistance.
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