A significant development has occurred in the ongoing legal battle between the US Securities and Exchange Commission (SEC) and Ripple Labs. The SEC has succeeded in its motion to compel the blockchain payment company to produce its 2022-2023 financial statements and post-complaint contracts governing institutional sales of the XRP token.
The District Court for the Southern District of New York, presided over by Judge Sarah Netburn, approved the motion on February 5th.
Ripple Under Legal Pressure
According to Fox journalist Eleanor Terrett, the court order requires Ripple to disclose various information related to its financial history and the historical sales of the XRP token itself.
One of the key elements of the court’s order is the demand for Ripple to share its financial statements for the years 2022 and 2023. This requirement aims to provide transparency into the company’s financial position during the specified period, allowing the SEC to gain an understanding of the comp
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