lawyers Ripple (XRP) Recently in the now famous lawsuit among Americans Securities and Exchange Commission (SEC) and one ripple made movement in which they wanted access to information about officials within the authority.
The information mainly relates to whether these officials are authorized to trade in XRP. According to Ripple, this information should confirm that even then, XRP is not what it is Safety, or security, as the Securities and Exchange Commission sees it.
Ripple has been under fire from the SEC for some time due to the claim that XRP was being traded as collateral. This is while Ripple did not have the necessary licenses for it.
The Securities and Exchange Commission has since responded to this Ripple move. They do not agree to this under any circumstances and have now lodged their protest with the court.
This protest argues, among other things, that providing information about employees within the SEC would be a serious breach of these individuals’ privacy.
#XRPCommunity #SECGov Fifth. #ripple #XRP The Securities and Exchange Commission (SEC) has lodged its objection to the defendants’ proposal to force the Securities and Exchange Commission (SEC) to submit documents showing whether SEC employees are allowed to trade XRP and other digital assets. Six pages in two consecutive tweets. pic.twitter.com/gCuXeUkpOs
– James K. Phelan 🇺🇸🇮🇪 (@FilanLaw) September 3, 2021
Additionally, the Securities and Exchange Commission states that this information is completely irrelevant to the pending lawsuit. Regulations within the SEC are prepared by Ethics Board Office. They define what officials within the SEC can and cannot do when it comes to trading assets. However, these bylaws say nothing of whether or not Ripple is breaking laws, according to the Securities and Exchange Commission.
This Ethics Board has since confirmed that XRP, Ether (ETH) employment Bitcoin (BTC) It was not on the list of prohibited assets. However, XRP was on the so-called “watch list”.
“The great importance of the privacy of SEC employees outweighs any benefit that disclosure brings.”
According to a lawyer and a prominent figure in the XRP community, James K. PhelanThe SEC is wrong here.
“The problem with the SEC is that they are wrong in both the facts and the law. However, I have not seen anything that has changed my mind that this lawsuit is going to last for so long.”
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