Ripple vs SEC: SEC Asks Ripple to Provide Messages in its Slack History

Ripple vs SEC: SEC Asks Ripple to Provide Messages in its Slack History

The US Securities and Exchange Commission has asked Ripple to provide more information about the messages in its Slack history, which it believes is unique and important evidence.

SEC wants to Access Slack Messages from Ripple Employees

The U.S. Securities and Exchange Commission (SEC) has filed a motion asking Ripple to provide its Slack history. The SEC asked Sarah Netbrun, a judge for the Southern District of New York, to instruct the company to search for and prepare related communications between its employees.

The SEC believes that some of the Slack messages generated yielded critical information. The document also states that Ripple suddenly refused to do so, saying:

“Ripple agreed at the outset of discovery to search for and produce responsive Slack data but now, in the waning days of fact discovery, suddenly refuses to do so on the basis of Ripple’s mistakes in gathering that data.”

The SEC recorded another interesting fact. About a month after the initial announcement, Ripple admitted having missed a “large amount” of Slack data. This data processing error resulted in only a small portion being deployed.

Then go on to say that Ripple is now refusing to search the entire Slack message set. The SEC’s comments on the matter are generally harsh. This is all the more true given that the refusal to provide most of the documents “did serious harm to the SEC”.

The comparison company then applied for an extension of the deadline to August 16, 2021, in order to respond to the motion.

Ripple vs SEC Lawsuit Continues to Escalate

The case between Ripple and the SEC is currently one of the most compelling and violent cases in the cryptocurrency space. Ripple firmly insists it didn’t do anything wrong, despite the fact that the SEC is actively pursuing the case.

Judge Netburn had previously denied the SEC access to Ripple’s legal disclosures. It also denied the SEC’s motion to ban testimony. Ripple itself has stated that its XRP is not a security and has never held an ICO.

For its part, it has pointed out cases to prove its innocence. In July 2021, she referred to the US Securities and Exchange Commission’s own comments on Coinschedule in a bid to dismiss the case.

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.

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