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Ripple Achieves Another Small Win Against US SEC Lawsuit

CryptocurrencyJul 16, 2021 03:30AM ET
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Ripple Achieves Another Small Win Against US SEC Lawsuit

  • Ripple has notched up another small win on its ongoing battle with the U.S. SEC.
  • The Judge denied SEC’s motion to suppress the deposition of SEC’s William Hinman.
  • More so, the Judge ordered Hinman to sit for a deposition.

Ripple (XRP), a San Francisco-based fintech company, has notched up another small win on its ongoing battle with the U.S. Securities and Exchange Commission (SEC).

On Thursday, U.S. District Court Judge Sarah Netburn denied the SEC’s motion to suppress the deposition of the former director of SEC’s Division of Corporation Finance, William Hinman. Judge Sarah ordered Hinman to sit for a deposition. She said, as a high-ranking official who led one of the divisions of SEC, he held “substantial authority in a very important federal agency.”

It can be recalled, in June 2018, Hinman said in a speech that based on his understanding, the “current offers and sale of Ether are not securities transactions.” Currently, the financial regulator argues that it does not speak through its staff or individual commissioners but only through enforcement actions. Thus, anything Hinm...

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Ripple Achieves Another Small Win Against US SEC Lawsuit
 

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Comments (1)
Pasan Dissanayake
Pasan Dissanayake Jul 17, 2021 5:21AM ET
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Small win...ha ha..Funny comment
 
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