Skip to content

Real Cryptocurrency Hub

Crypto Comeback Pro is an auto trading platform that allows you to invest in the crypto market and start making money right away. Sign Up HERE

  • Home
  • Start Trading
  • English
    • English
    • Español
    • Italiano
    • Polski
    • Svenska
    • Deutsch
  • News
  • Mining
  • ATM
  • Bitcoin (BTC)
  • Guides
  • How To’s
  • Exchange/Wallet
  • Brokers
  • Bitcoin Price Prediction
  • Home
  • Crypto News
  • SEC Denied Access To Ripple’s Executives Personal Bank Details
  • Crypto News

SEC Denied Access To Ripple’s Executives Personal Bank Details

Lucas Duffy April 10, 2021 2 min read

Netburn refutes the SEC request for the financial statement of the firm’s top executives. She said it is irrelevant to the allegations. The firm, again, has won another score over SEC, following the previous request to peep into SEC’s document, which judges Netburn granted.

Ripple and SEC have been in a power tussle for quite some months now with no end in view. In the accusations against Ripple, SEC gave out subpoenas to 6 separate financial institutions. The court order contains a request for financial data, in the past eight years, of Garlinghouse and Christian Larsen, Ripple’s CEO and Chairman, respectively. SEC alleges that Ripple made a sale profit of $600 million via illegal sales of XRP as securities.

SEC Sent 6 Separate Financial Institutions Subpoenas

Responding, Ripple scribed a letter to the overseeing judge to scrap the subpoenas. The defendant’s legislature person further wrote that it is an inappropriate step to seek sensitive private financial records. They also claimed that the data SEC asked for is only relevant when it is a fraud case. And since there was no complaint reporting the two individuals of fraudulent activity, the data SEC seeks does not correlate with the case.

Although Ripple condemns the request, SEC still focused on getting the private banking records of the two top executives who oversaw XRP transactions for years. In a different epistle, the SEC advocate stated that for an adequate investigation to be carried out over the sales of XRP, the agency needs all the data it could get, including the two defendants’ bank details. He concluded that with the bank records’ aid, the agency might be armed with additional facts to bolster their charges against Ripple and its two top executives.

The Ruling Favours Cryptocurrency Firm

Although SEC’s rigorous tried to convince the court to grant its motion of accessing bank records of the firm’s defendants, unfortunately, it proved abortive. It argued that the request was appropriate in assessing the XRP trades alongside the revenue generated via the illegal sales of XRP. However, the overseeing judge, Sarah Netburn, debated that there was no correlation between the data requested and the lawsuit.

In opposition to SEC’s move, a request refuting the orders was filed by Ripple with the presiding court of law. In this motion, Ripple stated that the SEC’s move was wholistically irrelevant because the crypto firm had earlier consented to provide SEC with all data relevant to its XRP exchanges.

Eventually, the judge yielded to Ripple’s request. Netburn announced from a court file that getting the private bank details of the accused is uncalled for. The judge scribed that SEC’s appeal and issuance of the court order to third-party would consequently leak a massive volume of personal financial details, which would not help determine if the accused sold XRP in the open market offered it to impending investors. The judgement ordered SEC to stop its strive from getting the data.

Post Views: 557

Continue Reading

Previous: The SEC Lawyer Claims No Law Regarding Crypto Ban is going to Come
Next: Reports Show that more and more Russians are Disclosing Their Crypto-Incomes

Related Stories

FTX Token Experienced an 11.72% Dip and May Plunge to $17.81, Price Analysis
2 min read
  • Altcoins
  • Crypto News
  • Price Analysis

FTX Token Experienced an 11.72% Dip and May Plunge to $17.81, Price Analysis

May 16, 2022
Terra Experienced a 23.67% Price Plummet and May Dip to $32.36, Price Analysis
2 min read
  • Altcoins
  • Crypto News
  • Price Analysis
  • Terra (LUNA)

Terra Experienced a 23.67% Price Plummet and May Dip to $32.36, Price Analysis

May 15, 2022
ShibaInu Experiences a 17.17% Surge but Still Far from Bullish Trend
2 min read
  • Altcoins
  • Crypto News
  • Price Analysis

ShibaInu Experiences a 17.17% Surge but Still Far from Bullish Trend

May 14, 2022

Read our disclaimer

Name Price24H (%)
bitcoin
Bitcoin (BTC)
$29,522.00
-1.74%
ethereum
Ethereum (ETH)
$2,004.74
-2.97%
tether
Tether (USDT)
$1.00
-0.28%
usd-coin
USD Coin (USDC)
$1.00
0.02%
binancecoin
BNB (BNB)
$294.80
-0.94%
ripple
XRP (XRP)
$0.415958
-2.55%
cardano
Cardano (ADA)
$0.56
0.96%
polkadot
Polkadot (DOT)
$10.56
-2.00%
dogecoin
Dogecoin (DOGE)
$0.087384
-1.81%
Uniswap
Uniswap (UNI)
$5.01
-4.45%

Recent Posts

  • FTX Token Experienced an 11.72% Dip and May Plunge to $17.81, Price Analysis

    FTX Token Experienced an 11.72% Dip and May Plunge to $17.81, Price Analysis

    It’s been almost a month since FTX Token is being dragged by the bears. On April 17, the
  • Terra Experienced a 23.67% Price Plummet and May Dip to $32.36, Price Analysis

    Terra Experienced a 23.67% Price Plummet and May Dip to $32.36, Price Analysis

    At the time of writing, the buyers are trying to defend a low trading price of Terra (LUNA)
  • ShibaInu Experiences a 17.17% Surge but Still Far from Bullish Trend

    ShibaInu Experiences a 17.17% Surge but Still Far from Bullish Trend

    If you are into the meme coins then it goes without saying that you are well aware of
  • Price Analysis of extraDNA (XDNA), Maneki-neko (NEKI), and Gleec (GLEEC)

    Price Analysis of extraDNA (XDNA), Maneki-neko (NEKI), and Gleec (GLEEC)

    Time to go through the price analysis of extraDNA, Maneki-neko, and Gleec. The reason behind their price analysis
  • Price Analysis of Gera Coin (GERA) and CouponBay (CUP)

    Price Analysis of Gera Coin (GERA) and CouponBay (CUP)

    Gera Coin and CouponBay have reportedly experienced huge rallies in the past 24-hours. Both Gera Coin and CouponBay

Start Trading

Categories

Top Posts

  • Cryptocurrency Is Here And Is Unstoppable

    Cryptocurrency Is Here And Is Unstoppable

    Cryptocurrency is here and is unstoppable. Brian and Jim are excited about creating the foundation for the inevitable
  • Price Analysis of Wrapped NewYorkCoin (WNYC), Dinger Token (DINGER), and Diligence (IRA)

    Price Analysis of Wrapped NewYorkCoin (WNYC), Dinger Token (DINGER), and Diligence (IRA)

    According to stats, the rally in favor of Wrapped NewYorkCoin (WNYC) has been growing in size. As a
  • Bitfinex Review – A Popular Name in the Cryptocurrency Trading Industry

    Bitfinex Review – A Popular Name in the Cryptocurrency Trading Industry

    Bitfinex Review In the current days, the cryptocurrency industry has grown enormous and it is constantly expanding into
  • Action Refund Review – is Action Refund Scam? Uncovering the Truth!

    Action Refund Review – is Action Refund Scam? Uncovering the Truth!

    Is Action Refund Scam or Legit? Scams have existed in the world, for as long as people. Since
  • SFP, BAT, BSW, and more Cryptocurrencies on BSC Network Demonstrating Highest Performances in Past 7-days

    SFP, BAT, BSW, and more Cryptocurrencies on BSC Network Demonstrating Highest Performances in Past 7-days

    On the Binance Smart Chain, the cryptocurrency demonstrating the highest growth in the past 7-days is SafePal (SFP).

Archives

You may have missed

FTX Token Experienced an 11.72% Dip and May Plunge to $17.81, Price Analysis
2 min read
  • Altcoins
  • Crypto News
  • Price Analysis

FTX Token Experienced an 11.72% Dip and May Plunge to $17.81, Price Analysis

May 16, 2022
Terra Experienced a 23.67% Price Plummet and May Dip to $32.36, Price Analysis
2 min read
  • Altcoins
  • Crypto News
  • Price Analysis
  • Terra (LUNA)

Terra Experienced a 23.67% Price Plummet and May Dip to $32.36, Price Analysis

May 15, 2022
ShibaInu Experiences a 17.17% Surge but Still Far from Bullish Trend
2 min read
  • Altcoins
  • Crypto News
  • Price Analysis

ShibaInu Experiences a 17.17% Surge but Still Far from Bullish Trend

May 14, 2022
Price Analysis of extraDNA (XDNA), Maneki-neko (NEKI), and Gleec (GLEEC)
2 min read
  • Altcoins
  • Crypto News
  • Price Analysis

Price Analysis of extraDNA (XDNA), Maneki-neko (NEKI), and Gleec (GLEEC)

May 13, 2022
  • Kraken
  • OrbitGTM
  • Fxoro
  • BTC-Trends
  • KuCoin
  • Huobi
  • Bitfinex
  • PrimeXBT
  • United Exchange
  • Impressive Area
  • DG Flex
  • Tredexo
  • Sure Exchange
  • CTmatador
  • DXCBIT
  • IBC Exchange
  • CryptoPayIn
  • PrimeHolders
  • CMC Markets
  • XCGIN
  • Globe Exchange
  • XPRTcoin
  • Mainrow
  • Goldvence
  • Gamma Capitals
  • Towards Soure
  • CoinsMarkets
  • Cryptos Circus
  • Easy Crypto4U
Copyright © All rights reserved. | DarkNews by AF themes.
  • bitcoinBitcoin(BTC)$29,522.00-1.74%
  • ethereumEthereum(ETH)$2,004.74-2.97%
  • tetherTether(USDT)$1.00-0.28%
  • usd-coinUSD Coin(USDC)$1.000.02%
  • binancecoinBNB(BNB)$294.80-0.94%
  • rippleXRP(XRP)$0.415958-2.55%
  • cardanoCardano(ADA)$0.560.96%
  • SolanaSolana(SOL)$52.96-0.17%
  • polkadotPolkadot(DOT)$10.56-2.00%
  • dogecoinDogecoin(DOGE)$0.087384-1.81%
  • bitcoin-cashBitcoin Cash(BCH)$199.91-2.51%
  • UniswapUniswap(UNI)$5.01-4.45%