Ripple may expose SEC employees who are holding XRP

According to an attorney close to the case, Ripple has filed a motion to expose SEC employees who are holding and trading XRP.

@JakConnorTT
Published Tue, Aug 31 2021 4:06 AM CDT   |   Updated Tue, Sep 28 2021 5:02 AM CDT

Ripple is no stranger to legal action by the United States Security and Exchange Commission (SEC), as the regulatory agency has alleged the cryptocurrency is unregistered security.

Ripple may expose SEC employees who are holding XRP 01 | TweakTown.com

According to James Filan, an attorney who is closely following the case between the SEC and Ripple said that Ripple is pushing for a motion that would reveal if SEC employees have been trading or are holding any of its token XRP. The motion was filed last Friday with names such as Ripple Labs, Ripple CEO Brad Garlinghouse, and Ripple executive chairman Chris Larsen attached to the document.

The motion's action asks the U.S. District Court for the Southern District of New York to require the SEC to produce data to the court on its trading policies as well as anonymized documents that show "trading preclearance decisions" for XRP, Bitcoin, and Ethereum. Additionally, the document states, "Defendants also seek certifications concerning SEC employees' XRP holdings - again, either with redactions of personal information or in aggregate form."

It should also be noted that the document states that Ripple has previously requested this information from the SEC but failed. "We met and conferred with the SEC on this issue on July 8, July 15, Aug. 18 and Aug. 25, without progress."

For more information on this story, check out this link here.

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Jak joined the TweakTown team in 2017 and has since reviewed 100s of new tech products and kept us informed daily on the latest science and space news. Jak's love for science, space, and technology, and, more specifically, PC gaming, began at 10 years old. It was the day his dad showed him how to play Age of Empires on an old Compaq PC. Ever since that day, Jak fell in love with games and the progression of the technology industry in all its forms. Instead of typical FPS, Jak holds a very special spot in his heart for RTS games.

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