U.S. SEC seeks order for Ripple to produce financial statements and agreements to sell XRP to institutions.

The U.S. Securities and Exchange Commission (SEC) today (Nov. 11) sought a court order for Ripple (XRP) to produce financial statements for 2022 and 2023, as well as contracts for the sale of XRP to institutions (from the time of the SEC filing), Cryptoslate reports. The deadline is set for the 17th of this month. While the SEC's position is that the financial statements and sales contracts will help determine the amount of any future penalties, Ripple has argued that the order is unwarranted, saying that XRP sales are not subject to securities laws. The judge assigned to Ripple, Analisa Torres, ruled last July that XRP sold to retail investors was not a security. "Ripple has filed a motion to extend the order until January 19 to respond to the SEC's request for a preliminary injunction," James K. Filan, a former U.S. federal prosecutor, said in a statement.