The US Securities and Exchange Commission has increased pressure on Ripple in court
The US Securities and Exchange Commission (SEC) has filed a motion to force Ripple to file financial statements for 2022-2023 and provide contracts governing institutional sales.
According to the documents, institutional sales covered the same types of transactions that Judge Torres found to be unregistered offers and sales of securities.
An SEC representative submitted a statement to Southern District of New York Magistrate Judge Sarah Netburn. In it, the regulator asks that Ripple be required to answer a single question about the amount of income from institutional sales of XRP received under contracts before the filing of the lawsuit in 2020.
Another SEC demand is that the court impose remedies such as injunctions and civil penalties against Ripple. The Securities and Exchange Commission asked the court to make a decision that will help Judge Torres determine whether Ripple was guilty in the first case.
