Court denies Ripple access to data on SEC employees’ cryptocurrency transactions

The court denied Ripple’s motion to disclose information about the SEC employees’ transactions in Bitcoin, Ethereum, and XRP. This was reported by attorney James Filan.

#XRPCommunity #SECGov v. #Ripple #XRP BREAKING: Defendants’ request for documents reflecting the SEC’s trading preclearance decisions with respect to SEC employees’ transactions in bitcoin, ether, or XRP, and annual certifications concerning SEC employees’ XRP holdings is DENIED. pic.twitter.com/8vGorDaEs2

— James K. Filan 🇺🇸🇮🇪 (@FilanLaw) September 21, 2021

Judge Sarah Netburn also denied providing certificates regarding the annual XRP holdings by SEC employees.

Ripple filed a motion for disclosure of information about the crypto operations of SEC employees in August 2021. In the filing, the company noted that, to understand the Commission’s stance toward digital assets, anonymized or aggregated data would suffice.

According to the judge’s order, on August 25, a representative of the SEC stated that after the issuance of the March 9, 2019, formal order of investigation into Ripple, employees could no longer trade XRP.

Netburn ordered the regulator to provide the defendants with any information supporting this claim.

In December 2020, the SEC charged Ripple and its executives with unregistered sale of securities under the guise of XRP tokens amounting to $1.3 billion.

The regulator later amended the complaint, focusing on the actions of Brad Garlinghouse and Chris Larsen.