An Update On The Ongoing XRP Lawsuit

This is just getting petty…..

Believe it or not, regulatory financial lawsuits while heated, rarely reach this level of back and forth between the plaintiff and the defendant.

Then again, regulatory lawsuits rarely have both the regulatory agency and the defendant claiming wrongdoing on the part of the other.

According to the newest reports, The SEC now wants access to recordings from Ripple’s internal staff meetings, and at the same time Ripple wants to know the XRP dealings of SEC employees.

Ripple has argued that The SEC is biased in how it aims to classify XRP as a security, but not ETH or other cryptocurrencies.

Right now there seems to be no end in sight to the lawsuit, but here are the latest developments:

#XRP Ripple lawsuit:

So apparently the #SEC also requested all @Ripple employee trading plans. INTERESTING how the SEC will respond to Ripple's request to see THEIR trading plans/policies!!! pic.twitter.com/pj2TjmgRFf

— DustyBC Crypto News (@TheDustyBC) August 31, 2021

#XRPCommunity #SECGov v. #Ripple #XRP The SEC has filed a Motion to Compel Ripple to produce video and audio recordings of Ripple staff meetings it claims to have learned about from a "key former Ripple employee" in a deposition taken earlier this month.https://t.co/3Lfv1UrgZz

— James K. Filan 🇺🇸🇮🇪 (@FilanLaw) August 31, 2021

The SEC wants to see Ripple’s internal staff meeting recordings according to AMB Crypto:

In its most recent filing, the United States Securities and Exchange Commission [SEC] has expressed its intent to file a motion to compel Ripple to produce relevant video and audio-taped recordings of the meetings among current and former Ripple executives and key employees.

The SEC has accused Ripple of not informing the agency about the existence of the said recordings, stating,

“Despite the SEC’s request for relevant recordings in its very first document requests to Ripple in January 2021, Ripple never informed the SEC that Ripple routinely recorded staff meetings until a key former Ripple employee testified to that in her deposition earlier this month.”

🚨RIPPLE XRP LAWSUIT UPDATE: THE JUDGE JUST GAVE RIPPLE A SMALL VICTORY! HERE'S WHAT'S GOING ON!https://t.co/y1EogblzVN #XRP #XRPcommunity ⁦@Ripple⁩

— DustyBC Crypto News (@TheDustyBC) August 31, 2021

Great article exposing SECs hypocrisy and the unexpected role of independent researchers in this lawsuit. Big shout out to @JohnEDeaton1 who forcibly intervened to represent the interests of XRP holders. https://t.co/LDOJ2nKIF6

— Zac Shaiken (@ZacShaiken) August 31, 2021

Crypto Slate reports that Ripple wants to know the XRP dealings of SEC employees:

The ongoing SEC vs. Ripple lawsuit sees the defendants file a motion to compel the U.S securities regulator to produce documentation regarding its “trading preclearance decisions” for XRP, Bitcoin, and Ether. As well as documents regarding the XRP holdings of SEC employees.

“Defendants seek production of anonymized documents reflecting trading preclearance decisions with regard to XRP, bitcoin and ether, or alternatively, for that information to be produced in aggregate form.”

The letter confirmed that the defendants had previously sought this information on four other occasions but “without progress.”

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