Ripple Defies SEC for Deleting Information – XRP Trades at $1.11
California, USA – Ripple confronts the US SEC or Securities and Exchange Commission for deleting important documents that are related to the ongoing case. On another note, the XRP price trades at $1.11.
The US SEC filed an opposition to the Individual Defendants’ Motion and Ripple after questioning the improper declaration of other privileges and Deliberative Process. The response of the agency to the dispute follows a far-reaching back and forth between the parties involved.
This lead Ripple to provide a letter to Judge Sarah Netburn. Matthew Solomon, the lead counsel, sent a letter seeking help regarding the dispute. The discovery is almost ending, but several documents are still in need of delivery.
Regarding the previously filed opposition to the motion of Ripple, SEC debates the Deliberative Process Privilege (DPP) is a governmental privilege, and it targets to promote the quality of their decisions by encouraging and conserving candid negotiations between officials.
A transcript submitted by William Hinman showed how SEC tried to remove subtopics related to the lawsuit filed against Ripple. Reid Figel, the counsel for Ripple, Michael Seaman deleted page 254, the SEC Special Counsel.
The basis of Ripple’s end is the metadata. The second document stated that Seaman deleted some versions. Now, SEC counsel asked Hinman if there were instructions to Seaman to delete the said version, and Hinman said there were no instructions from him.
The deleted portion of the document, which was on page 96, was about the answer to Hinman to the question if he can identify other lawyers who approached him to seek guidance regarding digital assets.
As per the last update, the letter involving this issue is also why Ripple asked the Judge that they refuse to provide internal Slack messages.
Moving over to the performance of XRP, the trading price is at $1.11, and its market capitalization is $52.3 billion. There’s a possible hike with the descending wedge of this cryptocurrency, but it needs to play some scenarios before bouncing back.