According to PANews, court documents show that a US judge believes that Ripple Labs should meet the requirements made by the US Securities and Exchange Commission (SEC) many years ago and hand over historical financial statements. Judge Sarah Netburn sided with the SEC and ordered Ripple to provide records from 2022 to 2023 and answer questions about the amount of proceeds it received from XRP institutional sales. Ripple Labs argued that its financial documents were "highly confidential" and last month questioned the SEC's request for it to publish financial documents. Last year, Ripple won a partial victory in its court battle with the SEC when a judge ruled that XRP, which was sold programmatically to retail investors, did not qualify as a security.

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