TL;DR
The SEC has filed a motion against Ripple, demanding the company provide certain documents related to the lawsuit.
Ripple seeks a brief extension to respond to the SEC’s demands for documentation regarding XRP sales.
The legal conflict, starting in December 2020, heads towards a grand trial on April 23, 2024, with significant implications for the crypto market.
Has Ripple Violated Laws?
After a prolonged period of inactivity, The United States Securities and Exchange Commission (SEC) requested an order compelling the company to hand over two types of essential documents. These are its financial statements for 2022-2023 and its post-Complaint contracts governing “Institutional Sales.” Federal Judge Torres previously ruled that those transactions did constitute an unregistered securities offering.
Additionally, the regulator insisted Ripple answer a single interrogatory setting concerning the amount of XRP Institutional Sales proceeds received after filing the Complaint for
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