Ripple Labs has Filed a New Motion to Compel the SEC to Produce BTC, ETH, and XRP Docs

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.

Leave a Reply

Your email address will not be published.


ECB’s President, Christine Lagarde, Says Crypto Assets Have No Worth

In an interview, Christine Lagarde, the head of the European Central Bank, made it quite plain where she stands concerning the value of digital assets. Head Of ECB Label Cryptos As Worthless According to a survey by Politico, the head of the ECB noted her position on crypto. The ECB head stated that digital assets […]

UK Regulators are Investigating Terra’s Fiasco and Considering Crypto Rules

UK cryptocurrency market regulators are currently investigating Terra’s plunge. It began amid the recent cryptocurrency market massacre. The leading cryptocurrency in the market, BTC, fell as low as $26,000 during the market downturn. At the same time, Terra fell by about 100%. Terra’s Meltdown Under Investigation as UK regulators Consider New Crypto Rules While regulators […]

FTX Launches Stock And ETF Trading Option In The United States 

A prominent cryptocurrency exchange, FTX, is getting into the stock trading business. Soon, its users will be able to trade equities and exchange-traded funds on the platform.  Only A Few Users In The United States To Enjoy The Service  The Wall Street Journal reports that the firm Sam Bankman-Fried helped establish and serve as its […]

Major Australian Bank Shelves Crypto Launch Plan

CBA’s Crypto App Plan As previously mentioned last year, Australia’s biggest bank disclosed plans to let its users carry out crypto-related transactions on its app.  It has been taking its plan to develop the project but as not stated a particular time it will finally launch the project to the public. It also has plans […]

Crypto Investors Suffer from Lingering Fears

The Situation at Hand The drastic drop and decline that befell the digital asset market last few weeks have left a mark on the users and investors of crypto, with crypto coins and other assets experiencing their lowest of lows and even stablecoins being affected, it’s no surprise that both old and new investor is […]