Ripple Must Share Financial Statements Requested by SEC, Court Rules
Summary
A New York judge has ordered Ripple Labs to provide financial statements and information on the institutional sale of XRP tokens, following a request from the U.S. Securities and Exchange Commission (SEC). The SEC's request comes after a lawsuit accusing Ripple of selling unregistered securities. The judge had previously ruled that only Ripple's institutional sales of XRP violated U.S. law. The requested documents will help determine if the court should order injunctions or civil penalties for the period since the lawsuit was filed in 2020. Despite Ripple's opposition to the SEC's request, the judge granted it in full.
