Blockchain platform Ripple has made fresh claims that the US Securities and Exchange Commission has broken court orders. This was contained in a new motion filed by the San Francisco-based company today.
Ripple claims that the SEC have employed bullying tactics to scare close partners from working with the company. It also alleged that the regulator had violated several federal regulations in the process.
The motion further revealed that the SEC had confirmed that it signed at least 11 MOU soliciting documents from companies based outside the U.S many of which are business partners of Ripple. The blockchain platform believes that this is a form of scare tactic to stop those entities from doing business with Ripple. Ripple also complained that although the SEC had agreed to share the companies contacted with Ripple it had yet to comply.
It should be noted that the long running battle between Ripple and SEC has witnessed many twists and turns in recent weeks. A U.S court had earlier dismissed the motion from the regulator to view the personal finances of Ripples CTO Chris Larsen and CEO Brad Garlinghouse. Just a few days ago, senior Ripple officials and the defendant, in this case, filed a motion to dismiss the SEC lawsuit.
Ripple continues to attract new partnerships despite ongoing legal battle
Despite legal problems, Ripple is attracting more and more partners worldwide. The latest partner is the Novatti Group, an Australian payment company that will now use XRP for cross-border payments.
Announcement of the partnership on its website, Ripple wrote: “The partnership initially focuses on remittances between Australia and the Philippines … Now, Novetti hopes to process several thousand transactions a month through Replanet and serve more fintech customers in South-East Asia and in other countries.”
Brad Garlinghouse the CEO of Ripple, announced in an interview that CNN stated earlier this month that the company was still adding more than 20 new partners despite a lawsuit from the US Securities and Exchange Commission. He also announced that more than 90% of the company’s business partners are based outside of the United States