Ripple yields Judge demands financial records at SEC’s behest.

TLDR:

• A judge has ordered Ripple to hand over financial documents and information about institutional sales of XRP to the Securities and Exchange Commission (SEC).
• Last year, the court ruled that sales of XRP to institutional investors were unlawful securities sales.
• The court will use the additional information to determine appropriate penalties for Ripple.

A U.S. district judge has granted a motion by the SEC to compel Ripple to produce financial documents and information about institutional sales of XRP. The regulator sued Ripple more than three years ago over unregistered sales of XRP. Last year, the court ruled that sales of XRP to institutional investors were unlawful securities sales, but sales to retail investors were not. The court will use the additional information to determine appropriate penalties for Ripple.

In its opposition to the SEC’s motion, Ripple argued that its financial health was irrelevant to the matter. However, the court disagreed, stating that the information may be probative to the remedy stage and is relevant for determining whether an injunction is necessary. Ripple has not yet responded to the order.