SEC Requests Personal Information About Ripple’s Executives
A trial between SEC and Ripple that receives so much attention from the mass media gets more intense. Now the Commission wants the information about the transactions of two Ripple’s executives from six banks. These transactions took place six years ago. SEC targets Ripple’s co-founder and Chief Executive Officer, Christian Larsen and Bradley Garlinghouse.
The executives don’t want the banks to give them the information because it’s personal and call the actions of the Commission inappropriate. They claim that their personal financial data have nothing to do with Ripple and are ready to reveal all the information about XRP transactions needed for the investigation. But the SEC wants more and refuses to explain what it needs their personal information for.
Roslyn Layton, the Forbes contributor, writes that SEC are being arrogant and try to expand their authority unreasonably. She accuses them of an attack on crypto and investors in general. It is also noted that the trial began when Ripple were already thinking about moving into a crypto-friendlier region. Many American companies stopped working with Ripple but Asian-Pacific region seems to be less affected by this scandalous trial and keeps supporting them.