XRP (Ripple) Fights Back: Seeks to Expose SEC Employees XRP Holdings- LETS GO!!

XRP (Ripple) Fights Back: Seeks to Expose SEC Employees XRP Holdings- LETS GO!!

XRP (Ripple) Fights Back: Seeks to Expose SEC Employees XRP Holdings- LETS GO!!

On August 27th, attorney James Filan unveiled Ripple’s new motion demanding the SEC to produce documents related to its own employees’ XRP holdings. The legal order comes in response to four previous meetings Ripple has had with the SEC related to this issue throughout the summer, which have all been “without progress.”

The motion is filed on behalf of Ripple Labs Inc., Bradley Garlinghouse (Ripple CEO), and Christian A. Larsen (Ripple executive chairman). Specifically, the defendants wish to gather “anonymized documents reflecting [the SEC’s] trading preclearance decisions with regard to XRP, bitcoin, and ether.”

They also seek information specifically related to employee’s XRP holdings to be produced with redacted personal information or in aggregate form.

Within their motion, Ripple demonstrates that the SEC had “not adopted or imposed” any rules restricting their employees from trading in crypto until January 16th, 2018. This would, according to the company, be in line with the commission’s previous views on digital assets not being securities up until that point. Nevertheless, this left SEC employees a massive window of time to have collected XRP.

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