SEC denies to provide documents related to employees’ XRP holdings

The Securities and Exchange Commission refused to provide any kind of document or details to reveal the crypto holding of the SEC’s employees. 

On 27 August, the advocates of Ripple foundation appealed in the hearing that SEC should give all the details of crypto holding that their employees. 

But on 3 September, SEC clearly said that they will not provide any kind of details like this. Because it is against the privacy of their employees. And called that it will be an  “unjustified intrusion, if they will produce documents. 

Pascale Guerrier, the trial Attorney at the SEC’s Division of Enforcement, stated in the document

“The sensitive data is collected by the SEC’s Office of the Ethics Counsel (“Ethics Counsel”) for purposes of ensuring SEC employees’ compliance with ethical rules intended to prevent conflicts of interest—not to determine whether any particular transaction complies with the securities laws.”

They also said with full clarity that there is no document which provides any kind of transactions with the SEC’s employees. So there is also no relation of this crypto holding matter with the current lawsuit against Ripple. 

 Ethics Counsel also confirmed that there are no any kind of restrictions or prohibition to the holding of crypto assets like Bitcoin , Ethereum & XRP. While XRP was under watch earlier. 

So SEC clearly said that the raised question by the Ripple foundation on SEC’s employees crypto holding in regardless of the ongoing lawsuit case. 

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