SEC Refuses to Reveal Employees' BTC, ETH, and Crypto Holdings
In the ongoing case between the SEC and Ripple Labs—the minter of XRP, it has emerged that the agency, despite orders from the court, is refusing to release a list of their employees' holding of, among other coins, ETH and BTC.
Ripple lawyers contesting the SEC's labeling of XRP as an investment contract petitioned the court to let the agency provide a list of their employees' crypto exposure, a part of their defense that XRP is a utility and not a security as alleged.
However, in a letter, the SEC seems not to be ready. The crypto community speculates that despite the SEC's position on XRP, it is highly likely that most of its employees are holders of the asset, a conflict of interest.
In the recent past, the overseeing judge has continued to rule favorably for Ripple lawyers, a confidence boost for executives entangled in the case. There could be indicators that a settlement might be reached by the end of the year at this pace. If so, most exchanges that had frozen the trading of XRP might resume, further pumping the coin to new territories.