SEC, which sued Ripple in the US, is now investigating whether Ripple affects the XRP price. Data on the subject is collected.
The repercussions of the long-standing dispute between the US Securities and Exchange Commission (SEC) and Ripple still persist.
This time around, the SEC wants to contact foreign regulators to clarify that XRP has been manipulated by Ripple’s prices.
The SEC submitted another letter to the judge in which it defended its decision to contact foreign regulators, claiming that Ripple was seeking information from overseas organizations to debunk some of its main defenses. In the case, the defendants claimed that the pricing information was only in one warehouse:
“The commission is looking for critical evidence to debunk Ripple’s arguments. For example, he has argued that the price of XRP is not determined by Ripple’s activities. They try to make a defense that XRP’s intraday transaction prices on foreign platforms are unquestionably relevant. ”
The US Securities and Exchange Commission had said that some private company cryptocurrencies should be reported to the US Securities and Exchange Commission, claiming that they are “unregistered”. After these events, the events between Ripple SEC are closely followed by the cryptocurrency community. For now, it is difficult to say how these developments will end.