SEC secures extension for Ripple sealing motion

The U.S. Securities and Exchange Commission (SEC) has secured an extension of the deadline for filing a motion to seal documents. According to James K. Filan’s attorney, the court granted the regulator an extension until September 24, 2021.

Motion for Extension of Time granted. \”The SEC may file its motion to seal no later than September 24, 2021.\” Text Only Order

— James K. Filan 🇺🇸🇮🇪 (@FilanLaw) September 23, 2021

According to the SEC’s request, the documents relate to a dispute concerning the regulator’s responses to questions about applying the Howey test to XRP tokens over the past eight years.

On September 21, the Commission notified the court that it does not oppose Ripple’s motion to seal documents related to the company’s representatives’ answers to certain questions from the regulator.

#XRPCommunity #SECGov v. #Ripple #XRP The SEC files a letter stating that it does not oppose Ripple’s motion to seal certain portions of Ripple’s objections and responses to the SEC’s second
and third sets of interrogatories. pic.twitter.com/NX4bEzEjlp

— James K. Filan 🇺🇸🇮🇪 (@FilanLaw) September 22, 2021

Earlier Judge Sarah Netburn denied Ripple’s motion to disclose information about the SEC staff’s transactions involving Bitcoin, Ethereum and XRP. She noted that after the March 9, 2019 issuance of the official order initiating the investigation into the company, SEC staff could no longer trade XRP.

In December 2020, the SEC accused Ripple and its executives of unregistered sale of securities disguised as XRP tokens worth $1.3 billion. The suit was later amended, focusing on the actions of Brad Garlinghouse and Chris Larsen.

In September, Ripple agreed to hand over to the regulator internal audio- and video recordings. The court also ordered the company to provide the Commission access to Slack messages from its employees.