Ripple filed a lawsuit against the US Securities and Exchange Commission (SEC) to sue Bitcoin and Ethereum. At Ripple’s request, the commission should clarify why the two currencies are not securities.
to the the report Lawyers for Brad Garlinghouse, CEO, and Chris Larsen, co-founder of Ripple Labs, have asked federal Judge Analisa Torres to file a lawsuit against the US Securities and Exchange Commission. Require the preparation of documents related to the lawsuit of this Blockchain company.
In Monday’s lawsuit, Ripple’s representatives claim that the US Securities and Exchange Commission failed to produce documents other than those regulators chose.
Ripple asks regulators to provide documentation on Bitcoin and Ethereum, two major digital currencies not defined in the securities group.
Ripple argues that the nature of XRP transactions, although criticized for being centralized, is no different from that of digital currencies.
The US Securities and Exchange Commission said the documents related to Bitcoin and Ethereum were not relevant to the case.
Ripple accused the Securities and Exchange Commission of obstructing the presentation of exculpatory evidence, saying it was clear that exchanges had been told that XRP was not securities.
Based on the information received to date, it is clear that market participants have told the Securities and Exchange Commission that XRP is not a security, but until allegations are made in this case in December 2020, a public statement opposing it will be issued. Not published. Knowing all of these facts is relevant to the defense of this case and is important for the court to understand and be aware of the sensitive issues in this case.
Ripple also asks the court to require the stock exchange commission to produce documents from ten officials, including Jay Clayton, the former chairman of the US Securities and Exchange Commission.