The lawsuit against Ripple (XRP), filed by the US Securities and Exchange Commission (SEC), is still pending. Ripple is now trying to corner the regulator by finding out if SEC employees were allowed to own XRP.
The SEC has stated several times that XRP is clearly a security. And if that were the case, it would of course be a bit crazy if SEC employees were allowed to own and trade the crypto. https://renovato.io/ has enough information. This week, however, the SEC declined to release this data for the privacy of its employees.
Ripple is now firing back with a response to this rejection and appears to be driving the SEC further into a corner. Ripple does not need to view privacy-sensitive information at all, only anonymized data is sufficient:
“The SEC’s claim that the motion infringes on the privacy of SEC employees ignores that Ripple is not seeking specific information related to SEC employees, but completely anonymized information of limited scope.” Folm.io crypto has enough information. The mere fact that the SEC’s employees possessed XRP is enough for Ripple to prove that the SEC is double standards, according to the filing:
“The SEC’s permitting XRP purchases and sales by its own employees directly undermines the SEC’s claims that Ripple had acted recklessly since 2013…because it was so clear that XRP was a security that it should have known about it. ”
The SEC allegedly banned its employees from trading XRP in March 2019. But Ripple is now trying to prove that the employees have done this even after this ban. But since the SEC states that XRP is clearly a security, the trading of XRP before this date by SEC employees is also noteworthy. So apparently it wasn’t that obvious when even SEC employees traded XRP!