Disagreements between Ripple and the SEC continue.
The cryptocurrency platform has submitted a request for information about SEC employees’ transactions in Bitcoin, Ethereum and XRP. The company’s management is asking for documents that are anonymous, as well as evidence that will reflect ownership of XRP.
Prior to this, the company sent similar requests, but did not receive information from the SEC.
William Hinman, a former director of corporate finance at the SEC, said he told Ripple to stop selling tokens as XRP could be recognized as a security. He also said that Ripple is interested in restructuring the company’s operations in accordance with securities laws. The man advised them to stop everything.
These documents will help the cryptocurrency platform undermine the trust and authority of the SEC. Since the Commission prohibits its employees from performing transactions with securities without consent, but at the same time it did not at all interfere with the purchase, trading, etc., with the XRP token. That is, until 2018, employees could safely use Ripple’s services, which means that in 2018, the SEC did not consider XRP a security.
The Securities Commission is obliged to give an answer by September 3, but may again refuse to provide information. It is unknown how long the trial will last, but we will be keeping an eye on the news!