SEC failed to obtain data on financial transactions of Ripple – Bits Media

United States Securities and Exchange Commission (SEC) demanded assistance from cryptocurrency exchanges and international regulators in disclosing data on Ripple's external transactions. The SEC's efforts were in vain.

SEC lawyer Jorge Tenreir (Jorge Tenreir) sent to court New York complaint regarding that, that Ripple has not yet disclosed its financial information. Tenireir reported, that SEC has already analyzed cryptocurrency addresses, Related to the CEO of Ripple Brad Garlinghaus (Brad Garlinghouse) and Ripple co -founder Chris Larsen (Chris Larsen). 

The regulator discovered, that hundreds of millions of XRP were transferred at least twelve cryptocurrency exchanges outside the United States. In the complaint, Sarah Sarah Nedburn addressed to the judge of the District Court of the Southern District (Sarah Netburn), indicated, that Ripple has not provided a single document, regarding accounts with digital assets outside the United States and did not explain the goal of transfers using XRP.

US Securities and Exchange Commissions need information about intra -day trade operations with XRP, to determine, Is the increase in the crypto actual course depending on the company's previously made statements. The department considers, that Ripple could use false information to cheat investors, which contributed to the increase in the cost of XRP.

Ripple denies the accusations, but the SEC can strengthen its position in court, if it proves this relationship. but, According to Tenreyer, The commission cannot receive this information from Ripple or any other third party. Meanwhile, cryptocurrency trading exchanges are the only, who own information about such operations with XRP.

American exchanges reported SEC, that they do not have such data, “Closing” the regulator the possibility of investigation outside the country. SEC turned to nine foreign regulatory authorities with a request to receive such information from 14 cryptocurrency birz, falling under their jurisdiction, and also from five companies, using XRP, and one investor, who acquired XRP directly from Ripple. However, the efforts of the department were again in vain. All foreign regulators, to which the commission addressed, Rejected her request.

Recall, that SEC filed a lawsuit against Ripple at the end of last year, accusing the company of violation of securities laws during ICO on $1.3 billion in 2013 year. Ripple Director General called the regulator’s actions “attack” on all altcoins, And if the trial does not work out in favor of Ripple, The same fate can wait for other cryptocurrencies.