New York judge requires Ripple to share SEC-requested financial statements and court rules
Court documents submitted on Monday show that a New York judge has ordered Ripple Labs to provide certain financial statements and information about the sale of XRP tokens by the company to the US Securities and Exchange Commission (SEC). The SEC made the request earlier this month, following its lawsuit accusing the cryptocurrency company of selling unregistered securities in the country. Last July, Judge Analisa Torres ruled that only Ripple's sales of XRP tokens violated US law, a decision celebrated by the cryptocurrency industry as a victory in clarifying how regulators treat digital assets. The SEC stated in its request that it had already found Ripple responsible for wrongdoing before filing the lawsuit in 2020, and the requested documents will help Torres determine whether the court should order injunctions or civil penalties to be implemented in the future, and if so, how much.
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