In a recent filing with Magistrate Judge Sara Netburn, Ripple asked the court to force the SEC to create documents, proposing the Fed Agency’s internal crypto policy for its employees.
Ripple is asking for documents to reinforce the fair disclosure motion
According to a Friday tweet, from former prosecutor and member of Ripple’s legal team, James K. Filan Ripple, has asked the court to compel the SEC to produce documents relevant to the agency’s internal crypto policy. Filan too tweeted that the court has given the SEC until September 3 to file its response to Ripple’s motion.
The court has given the SEC until September 3, 2021 to respond to the Ripple defendants compulsory motion asking whether SEC employees were allowed to trade XRP and other digital assets. It was a text-only order (document order), which means that no separate, written order was submitted.
– James K. Filan 🇺🇸🇮🇪 (@FilanLaw) August 27, 2021
The motion appears to be part of Ripple’s “Fair Notice” filing against the SEC, stating that the agency failed to warn relevant parties, including the defendants, before finally filing the lawsuit in late December last year.
The application expressly requests whether the SEC employees are allowed to deal with ETH, BTC or XRP. Ripple also asked the SEC to submit annual certifications showing employees’ crypto holdings.
Claiming that its request to produce relevant information was “neither onerous nor inadequate,” Ripple stated:
“Our application is neither burdensome nor disproportionate in relation to the requirements of the case. The information requested should be readily available and it appears that it has already been reviewed by the SEC’s attorney during our meeting and conferencing process.”
SEC’s crypto policy prior to investigation
Another Ripple attorney said the fact that the SEC did not appear to be restricting its employees in dealing with crypto and ETH, BTC and XRP on the agency’s list of prohibited assets supports Defendants’ argument of “fairness.” Message”.
In addition, Ripple’s attorney said the SEC had not provided a clarification on whether the agency’s employees were allowed to trade XRP until March 9, 2019, the date the investigation was approved.