In the latest development regarding the Securities and Exchange Commission's (SEC) lawsuit against Ripple, it was reported that the XRP firm had sought consent from the court to obtain documents from 15 crypto exchanges.
Of note, the SEC has accused XRP of being a securities asset. This eventually led to issues related to ‘fair notice’ which failed to be submitted by the SEC.
The SEC later in a reply letter to judge Sarah Netburn on May 28, accused Ripple of lobbying the public and urging the firm to submit additional documents as evidence.
Ripple is seen taking this step to attack the SEC which often ‘distorts’ in each of the latest allegations.
15 crypto exchanges will submit documents if approved by the court. They include iFinex (Bitfinex parent firm), OKEx, Huobi, Bithumb, Upbit and Bitlish.
Ripple also plans to solicit documents from BitForex, HitBTC, AscendX (formerly known as BitMax), Bitstamp, Bitrue Singapore, ZB.com, BitMart, Coinbene and Korbit.
For the record, these firms are based outside the United States (US) such as South Korea, Malta, the Seychelles and the United Kingdom (UK), and most of them do not serve US clients.
Along with the application, Chris Larsen and Brad Garlinghouse stressed the document would assist in identifying where the XRP transactions were conducted by the defendants, i.e. themselves as previously alleged by the SEC.
If this application is approved and the document is in Larsen and Garlinghouse's favor, it is enough to end the trial of the case.
