{"id":320364,"date":"2021-08-10T14:58:28","date_gmt":"2021-08-10T11:58:28","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/sec-wants-terabytes-of-slack-communications-from-ripple\/"},"modified":"2021-08-10T14:58:28","modified_gmt":"2021-08-10T11:58:28","slug":"sec-wants-terabytes-of-slack-communications-from-ripple","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/sec-wants-terabytes-of-slack-communications-from-ripple\/","title":{"rendered":"# SEC wants \u2018terabytes\u2019 of Slack communications from Ripple"},"content":{"rendered":"

“# SEC wants \u2018terabytes\u2019 of Slack communications from Ripple <\/strong>”
\n<\/p>\n

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\u2019s internal communications.<\/p>\n

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\u2019 attorney James Filan announced<\/a> on Twitter<\/a>.<\/p>\n

The filing notes that Ripple\u2019s previous production of Slack messages to the SEC was incomplete, with the firm eventually admitting that this was caused due to a \u201cdata processing mistake\u201d after \u201crepeatedly contending that its Slack production was complete.\u201d The SEC believes that Ripple only collected a small portion of its Slack messages and that a \u201cmassive quantity\u201d of Slack data has not been collected or searched.<\/p>\n

\u201cRipple\u2019s data error and refusal to produce most documents has already been highly prejudicial to the SEC. Among other things, the SEC has deposed 11 Ripple witnesses using incomplete records of their communications,\u201d the filing added.<\/p>\n

According to the SEC, the missing documents include over 1 million messages comprising \u201cterabytes of data\u201d and eclipsing Ripple\u2019s large email productions, which corroborates testimony that Ripple employees communicated at least as often by Slack as by email. The authority emphasized that previous Slack messages shared by Ripple \u201chave yielded critically important information\u201d that wasn\u2019t part of emails or other documents provided by the firm.<\/p>\n

Ripple subsequently filed<\/a> a request to extend the deadline to respond to the SEC\u2019s motion regarding the Slack communications from Thursday, Aug. 12, to Monday, Aug. 16.\u00a0<\/p>\n

Related: <\/em><\/strong>Ripple granted access to Binance\u2019s records in SEC securities case<\/em><\/strong><\/p>\n

Attorney Jeremy Hogan, a popular lawyer within the XRP community, suggested<\/a> that the\u00a0SEC\u2019s latest motion is yet another effort to prove that XRP should be treated as a security and thus fall under the commission\u2019s jurisdiction. \u201cIt is attacking from the flank and arguing Ripple marketed and treated XRP like a security and therefore it is. The SEC has had some success with this argument in the past and it makes sense as a strategy since in all substantive ways XRP is NOT like a security,\u201d Hogan noted.<\/p>\n

Last week, SEC Chair Gary Gensler called for increased regulations to adopt rules for decentralized crypto exchanges. In response, former\u00a0Commodity Futures Trading Commission Chair Christopher Giancarlo argued that crypto regulation doesn\u2019t fall under the SEC\u2019s jurisdiction, as cryptocurrencies are commodities.<\/p>\n