U.S. Court Rejects SEC's Request to Disclose Personal Financial Records of Ripple Executives

Hong Kong, China -- (ReleaseWire) -- 04/15/2021 -- According to news on April 11, after the US local court tried the SEC's request for senior executives of ripple to disclose their personal financial records, the judge rejected the relevant requirement of the US securities regulatory agency in court, that is, ripple cannot be forced to disclose the personal financial data of its current and former chief executives.The local court found no evidence that the SEC's request was necessary or appropriate.Earlier, the judge approved ripple's motion to force the SEC to provide bitcoin and Ethereum related documents, which was considered ripple's first legal victory in the sec.

As early as mid March, the US SEC required two senior executives of ripple to disclose their personal financial records on the grounds that the two executives (Chris Larsen and Brad garringhouse) were accused of illegally selling $130 million worth of rupees.The legal team of ripple co-founder Christian Larsen and chief executive Bradley garringhouse argued that the SEC's investigation into the personal financial condition of the two executives had nothing to do with the ongoing ripple lawsuit.Its legal team said: "in a non fraud lawsuit, the defendant has agreed to provide relevant information related to the challenged transaction, and the SEC's attempt to steal the defendant's personal financial information from various aspects is totally inappropriate ultra vires behavior."

The local court of the United States tried the case of two senior executives of reborn currency, which made a positive case for the transaction security of digital asset trading.Some analysts believe that the case change will provide reference for many cases related to the rationality of digital asset transactions, and it is also the first victory for the decentralized digital assets to win the unreasonable requirements in the SEC related investigation.

Hester Peirce, the SEC Commissioner, commented on the case: he said it would be foolish for the US government to ban bitcoin, and she did not think the US government would take action to ban the use and trading of cryptocurrency.She believes that if the United States tries to ban the mainstream cryptocurrency, the United States may pay a heavy price.Hester pierce suggested that the United States should formulate regulations friendly to cryptocurrency to keep pace with countries that are more friendly to blockchain and cryptocurrency industry.

According to news on April 11, Hester Peirce issued a relevant statement, saying that the world has missed the time to ban bitcoin. Judging from the current transaction scale and demand of digital assets, bitcoin can only be banned unless the Internet is completely shut down.She also said governments around the world would never be so stupid.

On April 11th, one of the largest financial publications in the United States, "Barron's Weekly", displayed Bitcoin graphics on the front page. It is reported that Barron weekly mainly provides in-depth analysis and comments on stocks and investments.Barron's and Barron's, founded in 1921, are now affiliated to Murdoch News Corporation with a circulation of more than 300000.As a professional financial weekly of Dow Jones, Barron weekly aims to help American professional and institutional investors grasp the development direction of financial market, and is characterized by accurate judgment and thorough analysis.

On April 10th, according to a research report by JPMorgan analysts, bitcoin's futures market outperformed mainstream legal tender earnings, as well as gold and silver earnings.Most fiat currencies yield about 5% a year, while bitcoin futures market yields 25%.However, the introduction of bitcoin ETF in the United States may reduce the yield of bitcoin futures.

As of the evening of April 11, the total market value of global digital assets was US $1.85 trillion. Bitcoin broke through the key position of US $60000 on April 10, and then fell below US $60000 due to insufficient support.Within 24 hours, the highest price of bitcoin is $61177.72, and the lowest price is $58573.73.

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