Ripple CEO Seeking Assistance from World’s Largest Cryptocurrency Exchange

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Ripple CEO Seeking Assistance from World's Largest Cryptocurrency Exchange
Ripple CEO Seeking Assistance from World's Largest Cryptocurrency Exchange

In the proceedings against the US Securities and Exchange Commission, the lawyer of Ripple CEO Brad Garlinghouse filed a motion on August 2 for further international investigations.

Ripple Looking for Additional Evidence from Binance

Garlinghouse is seeking evidence from Binance Holdings Limited, a subsidiary of the world’s largest cryptocurrency exchange in the Cayman Islands.

The defense invoked the “Hague Convention” and asked the court to file a motion on behalf of the accused and seek assistance from the Central Authority of the Cayman Islands.

The Ripple boss believes the Binance company has unique documents about its XRP transactions, which makes them relevant to the case:

“Mr Garlinghouse seeks foreign discovery on the basis of his good faith belief that the listed entity possesses unique documents and information concerning this case, and specifically, concerning the process by which transactions in XRP allegedly conducted by Mr Garlinghouse on foreign digital asset trading platforms were conducted.”

Garlinghouse lawyers continue to insist that the SEC did not indict the domestic offering in its amended complaint and that the gathering of additional evidence would support the executive’s pending motion to reject the April lawsuit.

In June, Garlinghouse and Ripple co-founder Chris Larsen (also listed as a single defendant) filed a similar motion to request documents from a total of 14 cryptocurrency exchanges, including Bitfinex’s parent company iFinex, Bithumb, Bitstamp and other notable names.

Sarah Netburn, the judge who presided over the exposure, approved the motion.

Garlinghouse lawyers said the SEC had no objection to the latest filing.

In May, Judge Netburn also ruled that regulators can still send requests to foreign counterparts to obtain documents from Ripple’s overseas partners and cryptocurrency exchanges.

Ripple vs SEC Discovery Case to Last Until October 15th

As reported by Fxcryptonews, the court cleared the SEC’s motion to extend the detection time of the Ripple case by 60 days.

The pre-audit discovery phase lasts until October 15th

In late December, the US Securities and Exchange Commission filed a sensational lawsuit against Ripple and its executives for allegedly illegally selling XRP.