Binance Joins the SEC-Ripple Scene! - Kakiforex.com - Financial Market Media No. 1 in the World Binance Joins the SEC-Ripple Scene! Binance Joins the SEC-Ripple Scene!
InstaForex

August 4, 2021

Binance Joins the SEC-Ripple Scene!

 This time the dispute between Ripple and the Securities and Exchange Commission (SEC) also dragged the global crypto exchange, Binance.


According to Ripple CEO Brad Garlinghouse, Binance has several relevant documents to lay out in the case.


Following that, Ripple's defense has submitted a request to the Cayman Island-based subsidiary of Binance exchange Binance Holdings Limited for documents relating to the XRP trading activities run by Garlinghouse.


The action was also well received by the SEC where no objection was raised.



Prior to this, Garlinghouse and co-founder Chris Larsen were justified in obtaining additional evidence from Bitfinex, Bitstamp, OKEx, and several other exchanges.


As previously reported, Garlinghouse has been accused of selling over 357 million XRP, worth $257,348,709 to lay traders on the market, and the funds have been sold on global digital asset trading platforms to investors worldwide.


The SEC is not satisfied with the Ripple CEO's actions, including his trading on digital asset platforms outside the United States (US).


However, Ripple's defense denied the SEC's charges. Based on the 1933 Security Act, Section 5, they explained that the agency's allegations were only used against domestic sales and security offerings.