SEC Alleges Ripple Trying to Conceal Facts: Problematic and Disturbing

#Ripple's request to seal its documents is alarming and problematic, according to the #SEC.

In a letter to the #Magistrate on March 30, Jorge Tenreiro, a senior trial lawyer at the US Securities and Exchange Commission (SEC), claimed that Ripple's requests for sealing were "problematic". In the letter, he writes , Ripple was trying to "hide the critical facts" of the case:

“Ripple's desire to continue to conceal critical facts about this case from its investors continues to be disturbing and underscores the need for investor-protective disclosure requirements imposed by the registration provisions of the 1933 Securities Act.”

Last week, the #blockchain company asked the judge to keep some of its documents under seals because they contain "confidential and private information." However, the SEC argues that such requests are "in conflict" with public access principles.