Ripple (XRP) struck back against the United States Securities and Exchange Commission (SEC) in the ongoing legal battle accusing the blockchain firm of infringing securities regulations.
What Happened: According to court documents sharing service CourtListener, the SEC recently delivered a letter to United States Magistrate Judge Sarah Netburn objecting to a motion that would prevent it from requesting data about the transfer of XRP (CRYPTO: XRP) to foreign crypto exchanges.
The SEC claims that the use of such requests is particularly important in this case.
Without access to this information, the regulator would be unable to establish whether Ripple manipulated the market to increase the token’s price.
The letter also suggests that if Ripple’s request was granted, it would constitute a dangerous precedent: “An opinion curtailing the use of Requests or requiring the disclosure of communications with foreign regulators could have broad adverse implications for the SEC across a wide array of governmental actions where the agency pursues cross- border cooperation to protect the United States’ capital markets and its investors.”
Price Action: XRP token price was going up in the last 24-hours. It was trading at $1.5, over 30% up, while the trading volume grew by 77%.
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