The SEC needs more time to respond to Ripple’s demands for Bitcoin, Ethereum and XRP documents
The U.S. Securities and Exchange Commission (SEC) is asking Judge Sarah Netburn to extend the time until Friday, June 11, 2021, through the submission of a Request for Extension of Time.
#XRPCommunity #SEC_NEWS v. #Ripple #XRP SEC files Request for Extension of Time, until Friday, June 11, 2021, to respond to Ripple’s motion to compel the SEC to turn over the internal BTC, ETH and XRP documents Judge Netburn twice told them to turn over. pic.twitter.com/ssX2MIWoi7
— James K. Filan (@FilanLaw) June 7, 2021
The SEC needs more time to respond to Ripple’s demands for Bitcoin, Ethereum, and XRP documents
To gain more time to respond to Ripple’s recent petition to force the production of documents related to Bitcoin, Ethereum, and XRP, the SEC has requested an extension of time until June 11.
The company’s lawyers filed a petition last week accusing the Securities and Exchange Commission of refusing to turn over its outside communications in defiance of a court order.
The lawyers said:
“The Court has ordered the Securities and Exchange Commission to search all of the relevant repositories for documents and discovery for communications between the SEC and external third parties relating to XRP, Bitcoin or Ethereum.”
After the SEC resisted, the Court agrees that the SEC must produce communications with third parties, including external agencies and market participants.
Ripple scored its first major victory in the battle of discovery on April 6 by accessing the Securities and Exchange Commission documents showing the agency’s internal views on the aforementioned crypto assets. On May 6, the judge upheld her ruling but clarified that Ripple would not be able to obtain the private emails of SEC employees.
The agency is also seeking to expand its findings in the case to address the remaining issues after asking the court for permission to proceed with additional deposits.
- Ripple Wants To Force SEC To Disclose Why It Views XRP As Securities, Differently Than Bitcoin And Ethereum
- Ripple Believes Records Held By Offshore Exchanges Will Prove Its Executives Did Not Violate Section 5 Of The Securities Act