The good old dispute of SEC and XRP in the form of a lawsuit continues. No side has won the agreement just yet, and based on the recent hearings and proceedings, it seems that the case is being dragged without asking for a direct procedure that involves only one of the intended parties to come out from the other side.
SEC says that XRP is only security and not a cryptocurrency, and that is why it can’t have a token, and the previous financial transactions that took place on its blockchain don’t hold any ground because, at the time, XRP was not registered as a security. XRP, on the other hand, is adamant that they cleared everything down with SEC beforehand, and there was no pointing of any kind towards registering or anything and that the SEC was clear from the get-go about XRP being a cryptocurrency according to XRP. You do get the whole gist of this lawsuit and the drag that is rinsing out from every corner here.
SEC to Provide All Documents Relating to their Review Process for XRP, BTC, and ETH
XRP, being the defendant, in this case, has been asking SEC to file the documents that are important for their defence, but SEC has since dragged this thing and has done nothing of the sort. Finally, XRP has filed a motion compelling the regulatory body to provide the document at its earliest.
SEC has asked the court to extend the deadline for the task as the defendant has raised a number of concerns about the SEC’s review and production of the internal documents. But according to XRP, SEC is citing its own delay for extending the deadline, and the only way to put it behind this lawsuit is to enforce strict deadlines.
Now the court has taken action and has asked the regulatory body to look for the documents for XRP, Bitcoin and Ether. SEC has not even taken the court’s order seriously and continued to drag on which the court has asked SEC to bring forth the documents, and this time it has been said more strictly.