SEC wants ‘terabytes’ of Slack communications from Ripple
The SEC said that the previous production of Slack messages from Ripple was incomplete, and a massive quantity of data has not been collected. The legal battle between the United States Securities Exchange Commission (SEC and blockchain-based payments firm Ripple continues, with the regulator wanting further access to Ripple’s internal communications.The SEC filed a motion with the Southern District of New York on Monday, requesting Judge Sarah Netbrun to order Ripple to produce and submit its employee messaging on business communication platform Slack, Ripple executives’ attorney James....
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In the ongoing SEC vs. Ripple court case, the defense team has written to Judge Sarah Netburn opposing the SEC’s motion to compel the firm to produce Slack communications. They demand the production of over 1 million pages of discovery. Slack is a proprietary message platform featuring chat rooms, private messages, and direct messaging. It […]
Ripple is now required to produce terabytes of Slack messages to the SEC which were previously withheld due to an apparent data error. U.S. Magistrate Judge Sarah Netburn has ordered Ripple to produce one million missing Slack messages between employees which the Securities and Exchange Commission (SEC) has sought to access. Despite Ripple’s protestations that complying would cost up to $1 million, the judge deemed the messages critical and unique evidence for the SEC’s ongoing case against the multi-billion dollar company for selling unregistered securities.The SEC filed suit against....
The Securities and Exchange Commission (SEC) was dealt a huge blow following Judge Netburn’s denial of its motion to access Ripple’s legal communications. Ripple On A Roll Earlier this month, the U.S securities regulator filed a motion seeking access to “all communications constituting, transmitting, or discussing any legal advice Ripple sought or received as to […]
Ripple Labs has joined the NACHA Payments Innovation Alliance, according to a new post on the Ripple blog. NACHA oversees the administration of the ACH network and acts as an industry trade organization representing over 11,000 financial institutions. The association with the organization is nothing to breeze over. Nearly 22 billion ACH transactions took place in 2013 valued at 38.7 trillion dollars. The move reiterates Ripples focus toward banking. Banks may be quicker to adopt Ripple than Bitcoin because Ripple gateways can be configured to have AML and KYC policies in place. Also,....
The global remittance giant Western Union might use the digital currency ripple in a pilot program. Western Union has confirmed it is currently in talks with Ripple Labs, the company behind the digital currency, but details remain scarce. However, if the program comes to fruition, it would be a landmark moment for ripple and the larger digital currency industry. Vice President of Marketing and Communications at Ripple Labs Monica Long did not confirm the details of the project but did add, "In general, financial institutions and networks use Ripple as a technology that powers real-time....