According to information from the lawyer who closely follows the lawsuit between Ripple and the SEC, James K. Filan, the blockchain giant has filed another motion to compel the SEC to produce documents showing whether its employees could trade XRP, Bitcoin, and Ethereum.
#XRPCommunity #SECGov v. #Ripple #XRP Ripple files reply in further support of its Motion to Compel the SEC to produce documents showing whether SEC employees were permitted to trade XRP and other digital assets. pic.twitter.com/qR5TEZSMK7
— James K. Filan ???? (@FilanLaw) September 7, 2021
Ripple insists on compelling SEC to clarify if its staffers were allowed to trade XRP
Renowned corporate lawyer and expert in commercial litigation who founded Connecticut-incorporated Filan LLC, Filan, assuming that both sides win small victories over each other from time to time.
The first motion to compel the SEC to produce the XRP-related documents in question was filed by Ripple Labs on August 27, and after that, the SEC responded to the judge that the provision of such documents would be an intrusion on the privacy of the agency’s staffers and falls under the Privacy Act.
However, it seems that Ripple disagrees with this view. They still decided to force the SEC to share documents showing whether or not the agency’s employees have been allowed to trade cryptocurrencies: Bitcoin, Ethereum, and the SEC-criticized XRP.
Ripple’s lawyers emphasize that SEC’s reasons are a misinterpretation and that they do not seek to review the data of any particular SEC employee. What they were looking for was “aggregate, completely anonymized information of a narrow scope and for a limited period.”
As reported by AZCoin News, Ripple’s request to the SEC is not an invasion of privacy. Ripple’s lawyers have also argued with the SEC’s objection that the production of these documents is burdensome.
Also, at Ripple’s petition, during a meet-and-confer, an SEC attorney made an oral statement that the agency’s employees were prohibited from trading XRP from March 2019, when the SEC issued an official order to investigate Ripple. But the question now is whether they will be allowed to trade XRP before that date.
Source: James K. Filan
Additionally, in a letter to Magistrates Court Judge Sarah Netburn, Ripple’s legal team questioned another argument made by the SEC against the production of these documents: the agency stated that these documents were irrelevant to the case.
Previously, Ripple has filed its Response to the SEC’s Motion to Compel Turnover of Video and Audio Recordings of Ripple Staff Meetings. In addition, Ripple wants to seal specific exhibits and excerpts from transcripts filed by itself.
The petition states that, among other reasons, these exhibits and excerpts are not documents addressing the SEC’s latest petition to compel and are not judicial documents and do not contain public access.
Read more:
- XRPScan Creates A Dedicated Module To Track The Processes Of Flare And Songbird’s Airdrops
- More Than 63 Million XRP Has Been Transferred In The Past Day As Price Surged By 8%