The Ripple Labs and the United States SEC lawsuit now involves major crypto exchange Binance after a recent filing on behalf of Ripple CEO Brad Garlinghouse.
Garlinghouse has sought the Southern District Court of New York to receive papers from Binance Holdings Limited that are “relevant to the current issue and not otherwise available.”
The request is related to Ripple’s legal battle with the US Securities and Exchange Commission (SEC), which accuses the business of selling $1.3 billion in securities illegally.
Ripple cites state legislation and the Hague Convention in its appeal. The company is requesting that the court contact the Central Administration of the Cayman Islands, where Binance is registered.
“Mr. Garlinghouse seeks foreign discovery on the basis of his good faith belief that [Binance Holdings Limited] 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,” said the filing.
As a result, Ripple is attempting to refute the SEC’s claims that the Ripple CEO has sold over 357 million XRP through “global” trading platforms with “global” investors.
Lawyers believe that the allegations should have no bearing on transactions that take place outside of the United States. Binance papers may bolster their case.
“As far as we know, Garlinghouse’s XRP sales were conducted primarily on digital asset exchange platforms outside of the United States. This information will allow us to demonstrate that the proposals and sales imputed by the SEC did not take place in this country and are not controlled by the laws to which the SEC refers in this case. “
Garlinghouse and Ripple co-founder Chris Larsen petitioned international authorities in June, requesting documentation from Bitstamp, Huobi, and Upbit, among other foreign exchanges.
