- Ripple and the SEC continue legal wars over audits.
- The number of XRP holders continues to increase.
The ongoing legal dispute between Ripple [XRP] and the U.S. Securities and Exchange Commission (SEC) persists, which is evident in the recent court filings. Despite a previous year’s judgment providing temporary relief for Ripple, the legal conflict is still ongoing.
Ripple counters SEC’s compelling suit
The recent days have witnessed intense exchanges between the U.S. Securities and Exchange Commission (SEC) and Ripple.
Earlier this year, the SEC sought a court order compelling Ripple to disclose its financial statements for 2022 and 2023, along with institutional sales contracts, since the SEC initiated the lawsuit in late 2020.
In response, Ripple argued that the discovery phase had concluded in August 2021, and its post-suit conduct and financial condition were irrelevant, as it did not contest its ability to pay penalties.
On the 23rd of January, the SEC contended that a detailed examination of these contracts was crucial to assessing whether Ripple’s planned XRP sales aligned with the court’s summary judgment order.
However, in a response filed on 24th of January, Ripple submitted a Motion to File a Sur-Reply. It objected to the SEC’s request, deeming it “overly burdensome.”
Additionally, Ripple disp
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Author: Adewale Olarinde
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