Ripple charges the SEC of “ill-conceived motion practice” in its XRP lawsuit
It seems the constant tension between the SEC of the United States and the folks at Ripple Labs isn’t going to ease out anytime soon. Representatives of Ripple Labs have now stood their ground against the SEC’s motion to release the audio and video recordings of the internal meetings that the staff held.
They say that the issue must be dismissed as there is nothing to discuss. This was done under 12 hours of the SEC implementing their motion. The company is on its way to becoming a major player in the blockchain market. They also said that they project Ripple’s product to be nearing completion before the motion is well or fully completed.
Such a statement comes after SEC said that they will go ahead and force the Ripple executives to produce audio and video footage. This would include both the newer executives and the older ones. The agency says that Ripple has been hiding these recordings until they were discovered in a recent deposition.
This blockchain firm says that the insistence of SEC for producing these audio and video recordings is a pressing matter for them. Ripple has not been happy with these developments and are rebuking most of these statements. They are adamant in saying that the SEC already knew about these recordings but only chose to bring them up at the last moment.
Ripple Labs has made it very clear that the SEC were privy to the existence of these recordings even before the litigation began. Before this SEC defined documents as tape recording or sound recording.