Ripple asked the United States Securities and Exchange Commission (SEC) to disclose policies and information regarding its employees' trading cryptos. This includes Bitcoin, Ethereum, and XRP.
Attorney James K. Filan recently provided the filling to add to Ripple’s fair notice defense.
According to the filing, Ripple asks SEC to provide records showing trading preclearance decisions about cryptos like XRP, Bitcoin, and Ether. And also to reveal documents relating to SEC employees’ XRP holdings.
Previously, Ripple‘s requests were met with “SEC’s refusal to provide some information.” Earlier in June, the Court had given Ripple’s act to force the SEC to provide its trading policies about digital assets. However, the SEC provided a policy dated January 2018. It is called “Ethics Guidance Regarding Digital Assets.”
Moreover, Ripple pointed out that until January 19, 2018, the SEC did not view cryptos as securities, and its employees were, thus free to buy, sell, and hold XRP without any restrictions.
Following this Ripple said,
"Within the SEC’s securities trading ban, BTC, ETH, and XRP never appeared on this list. The “Watch List” created by the SEC for identifying assets that are subject to case-by-case reviews rather than a blanket prohibition, added XRP only after 13th April 2018."
As per Ripple, SEC refused to give this crucial report to the case and was now seeking to pressurize it through the Court. But the Court gave the SEC until September 3 to respond to this motion.