Ripple, a blockchain company, has been ordered to provide financial documents to regulators relating bitcoin sales.
A New York judge granted the order, which requires Ripple to disclose statements and information on the sale of XRP currencies with the United States Securities and Exchange Commission (SEC), Coindesk reported on Tuesday (Feb. 6), citing court documents.
The SEC wanted such material last month in response to a significant judgment in a Ripple lawsuit. The complaint, filed in 2020, accuses the company of conducting an unregistered securities offering for $1.3 billion related to its XRP coin.
Judge Analisa Torres found last year that only Ripple’s institutional XRP sales, not retail sales, violated the law, which was hailed as a victory for the cryptocurrency industry.
According to the Coindesk report, the court found Ripple guilty of infringement before the complaint was filed in 2020. The SEC claims that these documents will help Torres decide whether to seek injunctions or civil penalties in the interim time.
