Attorneys representing Ripple Labs, CEO Brad Garlinghouse and Co-Founder Chris Larsen have Submit a judicial petition on Friday to compel the US Securities and Exchange Commission to produce two sets of documents the company requested earlier this year.
The battle between Ripple and the SEC is expected to last for several years
Ripple is trying to force the SEC to disclose why it concluded that BTC and ETH are commodities, not securities like XRP. This is where Ripple thinks it is being treated unfairly.
Last December, the SEC filed a complaint alleging that Ripple raised more than $ 1.3 billion through an unregistered offering of XRP securities, causing major US exchanges to delist XRP at the same time. So far, no major exchange has re-listed the token.
On April 6 and May 6, Judge Sarah Netburn of the Southern District of New York asked the SEC for the documents, but the agency has yet to comply as it is not engaged.
The two sides have met five times to try to resolve the issue, most recently on June 1, but there was no consensus.
At CoinDeskâs Consensus 2021 event last month, the Garlinghouse manager said he believed the case would have far-reaching ramifications for perceptions of cryptocurrencies in the United States.
Bao Cong
According to Coindesk
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