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In the #Ripple-SEC litigation process, there has been another development that can be described as positive for Ripple today .
The court rejected the #SEC's request for bank account records from individual defendants Ripple CEO Brad Garlinghouse and Ripple chairman Chris Larsen .
As it is known, the SEC asked the banks for 8-year records of the two names. Garlinghouse and Larsen then asked the court to stop their requests for information, claiming that personal confidentiality had been violated inappropriately. With today's decision, the Ripple side got what it wanted. The court reported that the SEC's claim was found to be unrelated or disproportionate to the requirements of the case.
🚨In its letter of March 17, 2021, the SEC listed the reasons for the request for access to these records, arguing that this was the only reliable way to clear the veil in XRP transactions and determine exactly how much money defendants made from XRP sales. The SEC also stated that the financial records to be reached will show whether the defendants' efforts to increase the value of XRP were personally funded.