The ongoing lawsuit between Labs and the U.S. Securities and Exchange Commission, or SEC, continues with the regulatory body claiming that XRP token holders are targeting its members on social media platforms with allegedly false statements.
In a Thursday motion addressed to Judge Sarah Netburn in the Southern District of New York, the SEC has requested a conference to discuss quashing the motion from Ripple to subpoena the former director of the regulatory body’s division of corporation finance, William Hinman. The SEC argued that Ripple’s motion, if granted, would set a precedent for the company to be allowed “a parade of requests for the testimony of high-ranking government officials,” and interfere with U.S. government operations.
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