New Motion May Force Ripple to Hand Over SEC-Related Emails

2021-2-10 17:43

XRP has seen some price recovery since the initial SEC charges against Ripple. It has been a tough few months for one of cryptocurrency’s industry titans.

Now, it seems that Ripple’s situation has become even stickier. The company may need to produce all emails it had with the Securities and Exchange Commission (SEC) dating all the way back to 2015.

This is due to a class-action lawsuit introduced by Ripple investors. On Feb. 8, Courtlistener revealed that the lead plaintiff, Bradley Sostack filed a new motion in the Northern District of California.

Source: Courtlistener.com Hoping for Increased Transparency

Although Ripple Labs and two of its executives face SEC charges, XRP holders are likely feeling the pressure the most. This has led to the motion, hoping for additional insight into conversations between Ripple and the regulating body.

The plaintiff has also moved to remove redactions from Ripple’s submitted court documents. These sections were redacted for “privilege,” but Sostack believes that Ripple shouldn’t be able to redact portions arbitrarily. Instead, the firm needs to be “explicit and specific” in its actions.

Ripple and XRP Soldier On

This entire situation stems from XRP, the cryptocurrency that Ripple has used to build its brand. The SEC states that it currently views XRP as a security, meaning the accused parties took part in the unlawful sale of securities.

Ripple never registered XRP with the SEC. This dates back almost a decade now and many see this as a last-minute attempt by the SEC, as it had years to take action but never did.

Brad Garlinhouse and Chris Larsen are accused of selling billions of dollars worth of XRP. Both view the crypto as a commodity in the same light as Bitcoin (BTC) and Ethereum (ETH), two assets the SEC has stated are not securities. The SEC has not made similar statements on other cryptocurrencies. However, Ripple feel that XRP is not a security.

XRP has suffered dramatically since the charges. For one thing, the cryptocurrency did not experience a massive bull market that other coins have.

Several crypto exchanges and Ripple partners have stopped offering XRP trading services until the case is resolved. As XRP holders continue to suffer, the public may see more motions filed in the coming months.

The post New Motion May Force Ripple to Hand Over SEC-Related Emails appeared first on BeInCrypto.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Allion (ALL) íà Currencies.ru

$ 0.0002904 (+0.00%)
Îáúåì 24H $0
Èçìåíåèÿ 24h: 0.00 %, 7d: 0.00 %
Cåãîäíÿ L: $0.0002904 - H: $0.0002904
Êàïèòàëèçàöèÿ $1.8k Rank 99999
Äîñòóïíî / Âñåãî 6.199m ALL

all emails ripple may securities 2015 had

Èñòî÷íèê: beincrypto.com

all emails → Ðåçóëüòàòîâ: 29


Ôîòî:

Top 5 Ways to Combat Conference Fatigue

Ever since Bitcoin, cryptocurrency, and blockchain technology became more mainstream in late 2017, there has been no shortage of conferences. As any marketing managers for blockchain companies (or even just fintech companies in general) will tell you, their inboxes are brimming with special speaking offers, sponsorship opportunities, and conference partnership emails — all of which […] The post Top 5 Ways to Combat Conference Fatigue appeared first on NullTX.

2018-12-3 22:53


Ïàðòíåðû Currencies.ru

Ðåêëàìà íà Currencies.ru

Ñàìîå ñâåæåå íà Currencies.ru

US SEC Sues PulseChain Founder Richard Heart for Securities Fraud

The US SEC is suing entrepreneur Richard Heart for raising over $1 billion from selling unregistered securities via three unincorporated projects: PulseChain, PulseX, and Hex. The post US SEC Sues PulseChain Founder Richard Heart for Securities Fraud appeared first on BeInCrypto.

SEC Sues Quantstamp for Raising Funds Through Unregistered ICO 

The US SEC has sued smart contract auditing firm Quantstamp for raising $28m through an unregistered ICO, settling for a $3.4m fine without admitting guilt. The post SEC Sues Quantstamp for Raising Funds Through Unregistered ICO  appeared first on BeInCrypto.

Binance US and SEC Reach Mutual Agreement on User Funds

A deal between Binance U.S. and the SEC will see customer funds repatriated to the U.S. as the exchange avoids a full-scale asset freeze. The post Binance US and SEC Reach Mutual Agreement on User Funds appeared first on BeInCrypto.

Bakkt Joins Robinhood and eToro in Delisting Major Altcoins

Bakkt is delisting ADA, MATIC and SOL, blaming regulatory uncertainty. It is the latest to drop altcoins following the latest SEC crackdown. The post Bakkt Joins Robinhood and eToro in Delisting Major Altcoins appeared first on BeInCrypto.