The SEC has requested the Court to reject Ripple’s dual demands for an order compelling the regulatory body to stop using international requests and turn over all previously collected data.
The SEC’s case against Ripple has been moving at a breakneck pace of late, resulting in a slew of fascinating revelations. For example, the ‘discovery conference’ three days ago revealed that the SEC was looking to reach out to international regulators for help with ‘discovery purposes.’
Ripple’s dual demands have been denied by the SEC.
The Securities and Exchange Commission has now filed a letter detailing the two documents filed under seal as part of the petition. The securities regulator has requested the court to dismiss Ripple’s dual requests for an order ordering the regulatory body to stop using international requests and turn over all previously collected information.
The SEC has reached out to international regulators on a voluntary basis.
The defendants still have access to all of the records they received, as well as a complete opportunity to appeal their admissibility in court, according to the US ‘s statement. According to the SEC, there is no justification to prohibit the creation of a complete factual record. The US regulator has made voluntary requests to international regulators. The regulatory authority went on to explain that its request for assistance does not end with the filing of a lawsuit and that it is not required to turn over confidential materials under federal regulations. had complained that the US Securities and Exchange Commission had used intimidation tactics to frighten away its allies.