In its recent filing, the US Securities and Exchange Commission (SEC) opposed the request made by Ripple and its co-founder Chris Larsen to answer interrogatories regarding the agency’s application of the Howey test for determining the status of XRP.
Just recently, the SEC opposed Ripple’s request to disclose employees’ crypto holdings to produce documentation regarding its “trading preclearance decisions.”
The controversial Howey test
In August, Ripple and Larsen filed a motion to compel the SEC to respond to its interrogatories, following the regulator’s “vague and ambiguous” answers regarding the application of the Howey test to XRP transactions.
As a response, the agency filed its opposition to answer interrogatories “identifying its theory of how the Howey Test applies to virtually all of Defendants’ transactions in XRP over the last 8 years,” as pointed out by James K. Filan, a former federal prosecutor for the US Attorney’s Office for the District of Co
Źródło: https://cryptoslate.com/sec-opposes-ripple-xrp-request-relating-to-controversial-howey-test/
