Judge drops the hammer, forces Ripple to hand over all financial records
In the newest turn of events in connection with the years-long court standoff between the United States Securities and Exchange Commission (SEC) and Ripple, Magistrate Judge Sarah Netburn has approved in full the regulator’s motion to compel the blockchain company to hand over its financial records . Indeed, Judge Netburn has granted the SEC’s motion forcing Ripple to open its 2022-2023 books and produce the post-complaint contracts on institutional XRP sales, as per a court document shared by defense attorney and former federal prosecutor James K. Filan on February 5. Furthermore, the Court has approved the part of the regulatory agency’s request that pertains to answering an interrogatory regarding the amount of proceeds from the institutional sales of XRP that Ripple received after the SEC filed the complaint, ordering the cryptocurrency firm to respond to it. #XRPCommunity #SECGov v. #Ripple #XRP Magistrate Judge Netburn has granted the @SECGov’s Motion to Compel in its entir...