Blockchain company Ripple has filed a motion asking the US Securities and Exchange Commission (SEC) to disclose its internal crypto trading policies.
As the legal fight between Ripple and SEC rumbles on, Ripple is interested in whether SEC has allowed its own employees to trade Ripple (XRP), the native cryptocurrency associated with the company.
The strategy is clever given that SEC treats XRP as “unregistered security” and having financially savvy employees who may have traded Ripple would raise questions.
Ripple hopes that the US District Court for the Southern District of New York will honor the request and allow it to seek further information on the matter. The documents that could be released won’t name SEC employees in person, but rather provide an aggregate.
Ripple is also seeking to find out if employees have shown interest in Ethereum (ETH) and Bitcoin (BTC). The defendant said that SEC has resisted similar motions so far. Ripple insists that these documents are relevant to their “fair notice” defense however and will continue to insist on obtaining them.
Ripple has been in hot water with SEC over what the regulator claims is $1.3bn in unregistered securities transactions. The company has vehemently denied the claim and Ripple Labs CEO Brad Garlinghouse and Ripple executive chairman Chris Larsen have braved the regulator in court.
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