XRP Supporter’s FOIA Request Further Delayed: Ripple vs SEC


The FOIA Request failed to bring a response from the SEC agency over the involvement of JPMorgan in the XRP lawsuit.

Ripple is a Fintech company, headquartered in San Francisco. This company provides global payment solutions to every multinational company with the help of XRP tokens. Ripple Labs is the engineering team behind the XRP token & XRP Ledger (XRL). In Dec 2020, the United States Securities and Exchange Commission (SEC) filed a lawsuit against Ripple & its leaders over the nature of the XRP tokens & sale of more than $1.3 billion worth of XRP tokens publicly.

In August 2022, A XRP community member filed a Freedom of Information Act (FOIA) request to bring clarity on whether banking giant JP Morgan was involved in the Ripple vs SEC legal battle or not.

Ashley Prosper noted that the FOIA Request is continuously getting delayed and it will further take more time to get proper information, as the SEC agency is not ready to disclose some information which are critical in the XRP lawsuit.

Prosper said that it may take a further 60 days in this case but a few crypto Twitter users said that the XRP community will get no information on behalf of this FOIA Request until the case ends.

Some legal experts close to the XRP lawsuit claimed that the Ripple vs SEC fight is near to end and in the next couple of months, SEC will settle the case without prior announcement.

XRP token price

The current trade price of the XRP token is $0.5 & this trade price is 44% high over the last 3 months of trade price.

XRP Supporter's FOIA Request Further Delayed: Ripple vs SEC 1

Read also: Japanese financial watchdog says 4 crypto companies operating without registration